Tuesday, November 11, 2014

Nov 11 - Gold settling, indexes continue to grind up

Gold looks like it may test broken support now resistance and perhaps bounce over it.

The indexes continue closing bullishly and QQQ looks primed for a move out of consolidation.  If it can make another solid close, it might have eliminated the chance of an island reversal which I was considering earlier.

As before, we continue to be very overbought but the tape continues to reflect aggressive buyers on dips.

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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.