Thursday, October 20, 2016

Oct 20 - Equities chop, added CMG for pre-earnings runup

Still in YRD which is consolidating nicely and the indexes continue to churn.  Possible we see a flush out in the next week or two but things look poised for a strong end of the year run.

Sold the other 1/2 GLD this morning and who knows I might miss the runup to 124 that I was targeting but I think I have more interesting plays that have better longer term value.

Also still long BIIB, WFC.

Added CMG as a pre-earnings play and if we get a good run up will pull some off before earning on Tuesday.

A really fantastic range to trade in
 VIX if it breaks this trendline could trigger strong buying in equities

YRD has thoroughly spooked me the last 2 days with the wild near 10% swings but looks like healthy consolidation.  I have high hopes for this one.

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Jun 19 - Set up of the year in financials

I am heavily long calls in $C, $BAC, $JPM for late Jun, July, Aug.  Mad conviction here.