Saturday, August 30, 2008
Still intermediate/ long term bearish, but last week was a little bit of a surprise. Lessening divergence btw financials and the general market which near term has pulled me off a bearish stance to a neutral/ bullish one. I'm leaning towards market top in 1-2 weeks. Maybe sooner. But the market could churn for a bit before declaring a top.
A big down day on Friday and financials held v strong. That rise to 1320-1330 in SP500 that I was looking for a few weeks ago might be in the works.
The candles point on $BKX, UYG towards a down day for financials on Tues. We'll see...
Wednesday, August 20, 2008
I am heavily long calls in $C, $BAC, $JPM for late Jun, July, Aug. Mad conviction here.
I have been stopped out twice in last few weeks trying to short GLD. I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...