Wednesday, October 5, 2016

Oct 5 - More equities churn, added small TWLO

Sold the WFC Nov 47 calls for a nice gain and would hold them if we weren't seeing the upper end of the range in equities.  I think WFC is carving out a floor finally but don't want to get caught in an overall down draft.

Current holdings (in order of size)
short GLD, SPY (re-entered after getting stopped out yesterday)

Probably tomorrow will be a down day with a gap down

Possible failed breakout in IWM
 NYA got to the midpoint and may reverse
 QQQ also hit resistance but didn't break through

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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.