I don't even remember when was the last down day since the debt ceiling deal. I have not been able to sell any puts this week. Bulls are pushing up all major indexes without any meaningful pull back. I have no any put position since I close my 1630 put for this week yesterday.
I was expecting the market to take a breath today since tomorrow is FOMC. Over night actions stayed in the upper section of yesterday. ES had a similar pattern as prior days of pushing down at open and popping to new highs at closing. I waited all day trying to add a position to my 1760c at 11ish. I was patience enough until it got filled after hour. But I realized my approach was faulted. I should have taken the stop first and enter another position at the price I wanted instead of letting the old one been taken to a bigger hole. As ES is getting to 1768 at S2 filling my add on, I am deeper in the water with my older one.
Tomorrow is going to be wild after 2pm FOMC's statement. I would expect 20-30 point swings. I must exit all of my position before 1pm regardless of loss or win. Also identify couple areas up and down for new positions. If we get a taper statement I may want to wait for the following day to get a clear picture.
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