Wednesday, May 1, 2013

T.J 5-1-13 Fed Day

Grains sold off overnight and not much recover by end of the session. My ZW long lost a little more than half of its gain. The up trend is still in tack. It appears both ways were tested and waiting for tomorrow's export report. I will maintain my target and stop and site through the report. I am risk free and may treat it as a scratch if it get stopped out. Lesson learned.

Fed maintains its QE position as markets expected. I was out to pick up wife's rental car and able to catch a small sell calls for 1530 for May 3. Expect a quick small profit in two days.

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