Thursday, May 1, 2014

A New Month 5-1-14

April is behind us now. I had a good and bad April. It was the best month so far in terms of total profit. Part of the $14K profit was unintended. It was the payoff March's ZW ITM rollover. I can't rely on such rollover very often since commodities trend much stronger and longer. I will do my month review this weekend.

Equities indexes inched up and held their bull flag pattern. I didn't have any new positions in ES today. CL moved to a new low overnight and been steadily up in RTH. It's Filling in a LVA and may be forming a IHS in 120M chart. NG formed a double top yesterday. It dropped near 2% after this morning's storage report higher than expected. I was a tick off to get filled for my bull put. It had option volume 2nd to CL according to CME but I don't see them in trading action nor in IB counter.

Grains had a major sell off this morning after a poor export report. Soybean fall 56 points, the biggest drop in my memory.  Both wheat and corn dropped in teens as well. I had fairly good bull put entries for wheat and corn. I can't say the same for SB but they aren't too bad so far. I will watch my risk closely.

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