Thursday, May 12, 2016

May 12 - Equities churning, re-shorting GLD/ SLV

Went back to short metals position yesterday based on the hourly and just generally weak activity during the day on the 5 min chart.  Hoping that price drops back into the consolidation zone.

Shorted AAPL also this morning after getting stopped out of a long.  If we close where we are or below, AAPL could fall much further.

As for equities, it's kind of a mess and wouldn't advise getting involved in either direction for now.

I don't have the hourly short signals annotated but basically it would be the opposite of the buy signals in green.

AAPL broke important support intraday.  It also exists on the daily chart.

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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.