Tuesday, August 2, 2016

Aug 2 - SPY false breakout

Got stopped out of XOP/ SPY longs for losses.  Looks like this consolidation took too long to cook and may have failed.  We had a weak RSI breakout which failed.  There's a chance that we have a false breakdown but I am not buying the dip here, nor going short.   The accounts got dinged for a few percent on this move and will wait for a stronger signal to potentially go long.



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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...