Looks like we are at a point where the market continues up uninterrupted or creates that pullback that many are expecting. There are lots of points in equities and commodities that point to such a juncture. I am biased long as I have XOP/ QQQ positions but am willing to accept a lower volume pullback as long as it doesn't accelerate into something bigger.
IBB may be consolidating or readying for a move down. Coin flip here. If it does blast up, QQQ will probably go with it.
SPY looks more bullish. Small range and even smaller relative volume.
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...