Mixed bag today on all fronts. Tech is up big and oil/ energy is getting crushed.
Still long QQQ (I unwisely meddled with my position yesterday which cost me several bps) and added SPY for a day trade with the stop set if we close below the consolidation zone.
Even if we break out, need to watch whether it is a false breakout or not. We should break out strongly and consistently for today through end of week if it is for real.
NYA barely hanging in there
Increasing down volume which is a bit of a warning sign
QQQ just marching on up. AAPL could be breaking up and out of a long term wedge which could carry the sector far
Wednesday, July 27, 2016
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...