Wednesday, November 19, 2014

Nov 19 - Equities weakness

A very unexpected slide in equities and metals triggered my stop in NUGT at 15.25.  I wasn't expecting any big moves until after the release of FOMC notes so this is surprising.  The speed of the move down and its fairly strong volume made me lean towards waiting to see how the day plays out before considering jumping back in.

HYG continues to slide also and I will continue to monitor to see if the negative divergence increases.

Update:  Back in NUGT at 15.50 and watchful of FOMC minutes coming up soon

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Jun 19 - Set up of the year in financials

I am heavily long calls in $C, $BAC, $JPM for late Jun, July, Aug.  Mad conviction here.