Thursday, November 13, 2014

1st Pull Back 11-13-14

I missed writing my morning plan again. I woke up after 9 today. I guess that I haven't get into a habit of planing my day yet. It takes at least three week to change or form a habit. I need to be more consistent. A morning plan helps me to clear my head and develop a frame work for the day instead of shooting from hip.

ES popped up after Europe open overnight. This morning's US jobless claim report was 8K more than expected. ES tested overnight high, then got sold off all the way to yesterday's low which was my first support. It closed back to the mid of today's range. It basically formed a doji bar. ES had a range of 17 handles for the first time in four days. None of my credit spreads got filled. I am somewhat mixed up between my normal setup and Karen's. I need to further clear define my set ups. I sold one ES 1920 bull put for Dec 4 which I chased from 1910. I was frustrated when my original order of $380 for 1910 didn't get filled because I kept changing my entries. I ended up cancelling it and got a fill of 1920 before closing. I need to be more patient. There is always next day. Volatility should come back soon.

Grains continued their march despite of record high production and higher dollar. Corn and wheat had another 1%, 2% up day respectively. Soybean didn't go up much after a big range of yesterday. Tomorrow we will see what is the export data telling us.

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