Indices had an open drive starting a new week. ES reached the all time high of 1895 set in early April. It didn't get sold off so far. Buyers appear in control and 1900 is in sight. I didn't have any fill for ES today. I wanted a bear call of 1935 for end of May but didn't get it. I sold a RUT bear call spread of 1180/1190 for May 29. Thinking is as a legging in of an Iron Condo which I read the ebook again this weekend.
Grains were all lower today. Corn and SB appear bearish after USDA report. Wheat is still holding up due to poor condition of winter crop. I will focus on opposite of the trends on pull backs.
NG had another 2% fall from last night to RTH closing. I added to $4.3 at 2X and 4.25 at 1X. My last defense of 4.2 entry was hit too. It looks like I am dragged in to the mud of this down turn. I will need to scale out or prepare to roll out. I expect NG may have a bounce before this Thursday's inventory report. I will try to scale out some of my positions if it happens.
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