Indices holding up well but in a small range. The early attempt of sell off met by buyers. Let's see what will bring by tomorrow's quadruple witch day. I tried to buy couple of index ETFs to hedge my spread but didn't get enough of pull back.
Grains had a follow up to the upside due to the concern of rain and flood. I need to watch out unexpected turns in grain market due to weather changes. I made couple fitting trades of bear call in wheat yesterday. I lowered my level a bit to fit the price. I entered another one at 680 for Aug to day. I entered couple of bear calls for corn which has a seasonal down trend. Remember that wheat has a seasonal up trend for the next few months. My T/A for wheat is that a pull back will lead to another attempt of push down. Based on this hypotheses I am holding off my roll over for wheat and corn.
I am completely out of energies now. My last NG bear call was filled this AM before the NG inventory report. I will wait for anther opportunity. Pro traders are paid to wait or wait to get paid.
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