I am not expecting the bottom to fall out here and the best thing for the bulls would be to see consolidation in SPY/ NYA to establish camp. I am still long QQQ/ XOP and not planning on making any moves soon.
This has been my proxy for the overall equities market and so far nothing scary...yet.
QQQ pulling back and so far ok but would be problematic if it fell much further below recent consolidation
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...