Thursday, August 21, 2014

Waiting for My Time 8-21-14

ES closed on new high of 1989.75. The market is on steroid now. Buyers step in on every dip. I am waiting for a sign of exhausting, BB or Fib target to enter my bear calls. RUT is still legging. My Iron condos look alive now. But anything can happen. There was an reversal bar in hourly chart today. If the majors' new high don't get sold off RUT may catching up too.

Grains are still in consolidation mode. All of my Aug grain options are closed with a net loss. I am adding bear calls and buying puts on pops for the major low of late Oct base on seasonal.

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