NFP came out much better than expected. ES never looked back to yesterday's range right off the gate. I entered SPX bear calls in all three account right above its all time high for week 3&4 but only week 4 got filled. My decision was based on that SPX price was near BBM line and Fib 50RT daily. There are several resistant levels above it and no strong seasonal tendency for Oct. I am willing to take stop losses at 2-3X of my premiums if I am wrong. It would take me 2-3 more trades to recover my losses. Unlike the grains I have been holding. They will take me 5-10X trades to recover. I also sold an ES bull put in S-5.
Grains had a mixed results. Corn and wheat were up 1C and 3C respectively. Soybean lost the ground unexpectedly. I was debating whether to exit another position out but it failed to stay in o/n range quickly. Wheat appears built a bottom in several higher lows.
No comments:
Post a Comment