After Mr. Lawrence Summers announced withdrawing from Fed chief's nomination on Sunday afternoon futures market gaped up over 1%. ES and NQ both reached a new high. All of my call selling are under water. It is a big lesson to teach me again whenever I am so sure of a market's direction and let my guard of risk control down the market will slap my hands.
At 3 pm today ES has had a 10 point range and it's moving very slow. My guess is that the market is cautions because the Fed meeting announcement is this Wednesday. My guess is the market will park at mid of a key level before Fed meeting. I will let my call sells of this week to decay for 1-2 more days in hope of minimizing the loss.
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