Indices formed another lower highs today after Apple's Iphone 6 announcement. ES had a drop, pop and drop day. In the bigger picture, ES is still in its balance area of 1975-2012. It is likely to test the lower boundary of this area in the next couple days. We may look at range bond actions in this CLVA. RUT looks a little more bearish but still in its balance area. I finally had a fill for the 2nd leg of 1120 Iron Condo in my E Trade account. It has 10 days and 3% room to the down side. I will watch for the risk and follow my rules for stop out.
Grains made new contract lows again. Soybean November contract closed below 1000 at 995 for the first time. My direct puts are looking good. I will wait for this Thursday's USDA report to start scale out this month's contracts. On the other hand, my bull puts are further under water. I rolled over another wheat Dec 570 to March 530. I will buy more puts of Nov, Dec for grains tomorrow if we get a pull back.
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