cashcow04

cashcow04

Financials destroyed not only today, but for the past week. FOMC, BOJ, Brexit, Treasury Yields, etc. driving the fear of God into people. When people are fearful, I shall be greedy. Looking at the daily chart of Wells Fargo and see a well defined channel dating back to the very beginning of this year. And if you look out further, you can see this price level...

cashcow04

2 days ago i posted the shooting star. This guy is bumping up against trend, and the 61.8 fibo as of today. VPA confirms. Fibo confirms. Trend confirms. Ex-Div is Tues 5/31. Let's get that out of the way and down we go.

cashcow04

REALLY tempted to jump on some June 3rd Weekly Calls with this nice wide hammer dandle off the 50 day MA. BUT, too much econ news Thurs/Fri this week and i don't want to get trapped. Yellen speaks Fri and could give more validation to a June rate hike and Gold will plummet to the bottom of the sea. Might have to lay off the Gold trade until after the FOMC on...

cashcow04

Looking for confirmation with volume tomorrow. Bumping up against heavy resistance at around $70-$71 bucks. If we get bearish volume validation, i'll get in on some weekly puts. This stock scares me though, seeing as how i got killed when i had puts going into earnings. Who'd da thunk it.. :(

cashcow04

Showed some signs of weakness intraday today after a bullish run in the past week. Volume still isn't convincing me this can continue so I sold out of my May 27 Weekly Calls for a 230% profit. (Entry 1.10 Exit 3.64). Bumping up against the 61.8 Bearish Fibo point of view. If you look at the Weekly/Monthly view, this thing could go down to 220 technically. We'll see!

cashcow04

In the June 3rd Weekly Puts looking for a bearish reversal.