My plan:
1. Indices have had no meaningful pull back overnight and after open. I will try to use any pull back to exit my bear call positions in SPX and RUT before 2PM. One hour after the FOMC release I would plan to take other bear call positions or bull put positions to recover some of my losses.
2. Grains are in consolidation mode again. I will add bull puts or calls of Dec, Jan for corn, sb and Mar, May for wheat. Also take out some bear calls which are under water.
Indices retreated after initial push up. It was lucky for me to exit most of the positions I wanted to get out. I was able to enter a ES bull put in S-5 acct on the 2nd push down after the announcement. But none of my spreads got filled. I will wait to see how the GDP number is like tomorrow and job numbers on Friday. Market reaction was not as strong as many other times. I guess people were prepared for the end of QE3.
Grains continued to move up against the large production numbers. I am getting frustrated and stressed for failing to recognize the changing trend and act properly. I got slapped left and right. I didn't follow my plan to get in calls. Instead I exited my existing calls in corn and wheat prematurely. I need pay more attentions to the bigger pictures. Changing day trading mentality and looking at daily open and close for trend to plan my trade instead of the hourly movements.
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