A wild two day swing for indices. ES had a bear engulfing yesterday. It dropped further after Obama announced authorizing air attack ISSI in Iraq. I thought my IWM was going to be a big winner. This morning when I woke up ES was up 20 pts from last night low of 1890. It looks like I don't have to take stops for my next week's ES.
In the grains' front, corn and wheat had over 1.5% drop on supply concerns. Soybean was supported by strong demand. It closed at day's high. My hypotheses of small range day didn't play out. Of course my plan of buying puts on a up or range day didn't work.
NG popped 1.5% to the break down point. It looks like I was too eager to get in yesterday. I may leg it up if it break out early next week. The seasonal trend is down and I will wait to see if it plays out with seasonality.
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