Sales resumed in indices with S&P down 1.6% today. It appeared that yesterday's pop was housing news related. ES closed around 50SMA and touched Fib 62% RT on daily and 38.2 RT on weekly. I assume that we may see more of the down side near term. I tried to sell SPX and RUT puts but no fills. I was not eager to get in. I am waiting for the price come to me instead of chasing it.
Grains continued the bearish trend despite of good export report. Soybean and wheat made new contract lows and corn was barely holding it. Wheat popped back to its previous low on an additional export sale news. I exited out my wheat $500 bull put with a 10X loss. Stopping rules was not followed. I am waiting to get back in after Oct USDA report according to my new plan. I tried to take stops of my other underwater contracts but no fill yet. I shall be aggressive tomorrow on both buying puts and exit bull puts. It's likely that the prices will go down further next week as USDA Grain Stock Report is scheduled on Tuesday and harvesting progresses.
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