To the market, anticipating bad things happening is often more scary than it actually happens. Crimea's referendum passed overwhelmingly in favor of Russia on Sunday. Market gaped up this morning like feeling glad the referendum is behind us now. All of my ES positions looks safe now. I may reduce some before Wednesday's Fed Announcement in case something dramatically changes and get ready for next round of entries. I didn't have any fill in ES today. My last Friday's VIX bear calls were timely and lucky. It produced 90% return over the weekend. Most likely I will get 100% profit by Wednesday morning if nothing drastically happens.
Grain complex retreated some but still in a wait to see mode. Apparently Ukraine is still shipping corn and wheat at its normal pace. Wheat was down 10 ps, corn was down 5 ps. I am prepared to scale out on my wheat position tomorrow as I am slightly OTM on average and don't want to hold all cars to expiration in case a pop put me back ITM. Soybean is still holding its bear flag. I guess it's depending on South America's harvesting and exporting data.
CL tested last week's low but held. It may be testing lows before summer seasonal rally. I will wait on Wednesday's inventory report before doing anything.
Quote of the Day: Don't count your money too soon. It's not yours until the position is closed. - Me.
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