Thursday, November 6, 2014

Nov 6 - More consolidation

Closed IWM short at cost and waiting to see how this consolidation plays out for a long position.   GLD continues to consolidate yesterday's drop and still holding a very large short position.  Monitoring the position carefully as we are seeing a lot of 'predictions' by mainstream financial media that precious metals will drop a lot further.  I am wondering how crowded this trade is now.

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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.