Looking at futures, not excited that I closed out half near close and may have made the mistake of overmanaging my position. I am expecting things to be pretty volatile and in general a difficult swing trading environment for the next 1-2 weeks. A general warning sign the last few days has been the continuous ramp in gold and Treasuries.
Game plan for next 1-2 wks
1. Close short position and go long on positive divergence/ buy signal on 1 hr chart with a minimum of 205 SPY
2. Re-short at 210 SPY
Anything else, will just wait things out as there might be a high possibility of whipsaw.
I am guessing roughly 203 SPY will be a long entry but will wait for the CCI signal to appear, preferably with positive divergence.
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...