Wednesday, May 4, 2016

May 4 - Potential short term bottom in equities

Settling into a low volume wedge which might break out tomorrow or perhaps have a false breakout and breakout later.  What bulls don't want to see is a resumption of large intraday range and volume.  If not, the action should be construed as bullish.

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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.