Tuesday, May 24, 2016

May 24 - Equities starting a new upleg?

I sold off EOD out of SPY longs from yesterday but leaving the chance that we move higher to test the upper end of the range.  Whether we break above it now I am less doubtful and more convinced that we chop around before making a decisive move.

GLD looks like it is following through with the original short setup I had a few weeks ago.  It would be great to get a bounce to short into as there is a lot more downside.

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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.