Friday, February 28, 2014

Wild Grains 2-27-14

S&P/ES closed firmly on a new high ground. I don't have anything new in this front except my this week's ES puts will expire worthless and give me full profit.

Grains, especially soybeans went wild today. Soybean went up 30 some point after a strong export report this morning. It reached 1745 with no volume profile then it pulled back. I was shocked to see my 1730 got crushed. I didn't add I have risk control ingrained into my brain. I was able to add a 2x position when the rejection was clear. Soybean closed down 14 points from up 30 points. It appears that the tide has turned. I may add a position to my 1730 on a pull back tomorrow.

CL was rejected on a attempt of cross Fib 78 and trend line. It looks like it's been contained for now. My hedge of puts didn't get fill for a tick. It's kind of frustrating. But I may get a better fill since it's moving down over night. CL is facing news break out risk. Russia and Ukraine are in tension over the new pro western government.

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