CLOSING UVXY SHORT POSITION

I don't see the upside in continuing to hold the UVXY short position that was initially opened with a little room to add on Monday, July 6th, Trade Idea: Opening UVXY (Short) Position and then added to on Wednesday July 8th of last week, Trade Idea: Adding to UVXY Short. The position is near a 30% gain with no leverage other than the natural 2x leverage that is UVXY (2x long VXX).

I'll post follow up charts, but you've seen an overview of what they look like this morning. They started looking good early this week, but were clearly in need of a reversal process as most reversals are a process and not a "V" shaped event; this makes for a stronger, more reliable position when the base beneath a move higher is large and stable.

I'll post the follow up P/L as well.