QQQ printing a promising 10 min flag
Friday, June 19, 2015
Jun 19 - Consolidation for more upside or another pullback going into post OPEX week?
Consolidating after yesterday's strong move. Unclear whether we move to ATH but IWM has already done so and QQQ is very close to doing so which puts things in a risk on environment for the moment. If we weren't heading into one of the most bearish post OPEX weeks of the year, I would be leaning more strongly bullish in the indexes. There is a chance of a pullback after we get closer to the upper BB but at the moment I don't see anything menacing in terms of a longer term pullback.
Call buying has come back and very good chance of a pullback here
Probably 2/3 of the options account is in banks. Maybe 1/2 regionals and 1/2 XLF, C, BAC. Expecting another run up in equities into Augus...
Jun 10 - More bullishness but when is the pause/ pullback coming? Currently long C, BAC, DAL, JBLU, MARK, IGT, PYBI, FDXI botched my financials short trade and didn't close them the day after when I was up 70% and ended up taking a 50% hit the next day. F...