Tuesday, May 17, 2016

May 17 - Potential leg up in GLD

I have been steering clear of equities as things have been very noisy.  Got stopped out of AAPL short last week and was flat over the weekend.  Potential for room to downside though but not entirely clear.

GLD however is making a really picture perfect consolidation.  This is one of the best setups I have seen in months.  I am in a big long position (short term) here.  I kept thinking it would pull back for the summer but it keeps grinding sideways.

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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.