Wednesday, July 20, 2016

July 20 - USO wedge

I would love for this turd to breakout but I would say odds are decent at best.  I say that even though I am long XOP calls for Sept.  Just as possible this wedge turns into a channel and keeps dribbling down.

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July 21 - Still massively long banks, took short term longs in NVDA, BABA, HAL, OAS

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...