I woke up late on this Monday of first full trading week. S-5 chat room had technical difficulty and no Trade Bit either. Indices had another sell off day. It's the 4th consecutive down day. ES had over 32 point, 1.6% off at one time. It closed a gap left on 12-18 and bounced off Fib 62% daily. The low profile area extended to 1990 from composite profile point of view. I placed ES orders on expected Fib 62% touch for 3rd and 4th week of Jan and got filled. RUT didn't have as steep of sell off as SPX. My RUT credit spreads didn't get filled. But I sold one set of IWM naked. It has a better ROM rate. I didn't get into Karen's set up since I don't think the sell off is over yet. I may get better entries by waiting a little longer. I have to watch my available margin carefully in case the sell off goes beyond expected Fib 78% RT.
Grains moved up sharply today. All of them crossed last Friday's highs and challenging or retesting the broken down area. I locked in about $1000 profit in wheat bear calls before they disappear again. My concern is about corn bear calls in which many positions are still too close to strikes. I may be forced to take losses and rollover again. My positions in soybean are balanced and no immediate threats for now. I plan to do some minor adjustments to lock in profit when there are more decays.
I was mostly calm and calculating my entries today. It helped from yesterday's new year planning. I will review it from time to time.
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