Tuesday, August 27, 2013

T.J. 8-26-13

Monday is trend setting? ES moved up to near Fib 62 RT and BBD/M then started dropping at 3pm. There was a news about Syria' chemical weapon investigation. I find that often news come in at critical levels and time.

Grains had a huge up day on Pro Farmer's field tour report and weather concerns. I didn't know the report was released after hour last Friday. I thought it was release already. Obviously my wheat short was stopped out on gap up this AM. For the lack of accurate information I didn't reverse my position to long. It was a 25 point up thrust. Soybean had over 60 point move. I exited half of my put in corn and added a call sell above two resistance levels. It looks like the move is not over yet. Maybe I should have waited a day or two for exhaustion.

No comments: