Friday, September 6, 2013

T.J. 9-6-13 A Wild Day

It was expected to be volatile but with a big twister of Putin's speech. The job number was less than estimated therefore the market pushed up as I anticipated that bad job number would be good news for the market. As it happens often a news of Putin talking about supporting Syria came out when ES was near its upper trend line. Everything started dropping immediately. It was a 25 point drop within 1 hour. Even in the panic selling market still respected key support levels. The drop stopped at 1639, a CLVN and BB4/L with last two days' open and close. It bounced immediately as I was expected it would stay low for a while. I didn't release my put orders. I thought the down trend was going to stay for a few days. Any way it was a V shape bounce and The day end as a big doji.  I only got some put in the mid and a month end call 1710 outside of all time high.

My main task will be managing risk for the next two weeks since I am close to full load now. I have 6 calls and puts on both side.

No comments: