My plan:
ES pulled back below yesterday's low overnight. Is it the relief I have been waiting for or just the same pattern of lower overnight and pop back during the day season? It looks like later during the first hour of RTH. ES/SPX closed a 10 point gap and challenging overnight high now. There were some good numbers in housing but unemployment claims was up 5K. Philly Fed manufacturing index was at 40.8 vs expected 18.9, Unreal? Well, it looks like my hope of a relief is gone. I have to take the 2015 call back with a big loss. I may try to sell another call to later of just get a put to recover partially.
Grains popped up cross the board. I will continue to rollover and lock in profit where I can. First, I need to search to see if any news behind the pops or just technically based.
My play:
The pull back didn't happen despite the lower low set overnight. The same pattern of down at night and up on the day played out again. I didn't get any fill except a error for RUT 1100 put spread for Dec 11. I forgot to key in the "-" symbol so it turned into a market order at $68 instead of $95. I must exit the position soon. I closed two ES puts to release margin for new positions but ES had no pull back today at all. I didn't get fill of my 2015 call which failed my plan again. I have to take it out tomorrow regardless the cost.
Grains pulled back with corn being strongest of 3%. I didn't see any news to cause it. Get to watch to see if it's a trend change. I rolled up 2 Feb 1180 soybean bear calls to 1170 to lock in 60% of profit. Also tried a new technique of reversing a losing position in my corn call to recover part of loss. This technique should be only used in far out of money and not too far from expiration.
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