02.20.20 $TVIX

Today was really a non-event day for me. I couldn't fall asleep last night to save my life and only slept a few hours until I was supposed to get up. I gave it a shot but was just too run down to focus so I ended up going back to bed for a bit and skipping the morning session. When I got logged in I saw the S&P 500 sold off out of nowhere so I checked into that and found out some report on the Coronavirus gave negative news regarding the spread. I waited for an opening and got long $TVIX, while keeping an eye on the $SPY. I got my first piece off but shortly thereafter the $SPY put in a recovery sign (as it does) and appeared to start consolidating into a bear flag. My read on it was that it wasn't consolidating into a bear flag but was actually consolidating to recover the sell off and the day, so when my position in $TVIX showed weakness I sold it off and closed my position. Kept the trade profitable and although it ended up putting in a new high, it barely missed my second take profit target. I would have been out of this trade with marginal gains regardless. I'd really like to close this week strong so tonight I'm hitting the Melatonin so I can (hopefully) pass out and get a good night sleep.