My plan:
Indices futures drifted down overnight. European markets are slightly down cross board. ES is already in a 20 point range. The lower high pattern continues. I will watch to see if yesterday's low of 1982 would hold. Target down is at 1970, then 1950 area. My target above is 2020, then 2030. I will try to close some positions to raise IB margin level in IB acct. I may sell ETF and credit spreads in Etrade and IB personal account.
Grains held overnight. My main task is to reduce size and risk.
My execution:
ES/SPX moved erratically today. It traded in a small range within yesterday's value area. Then, it tested both high and low of yesterday in the last two hours. Although it was considered an inside day but closed to the down side. The down trend is still intact. I sold a March wk 3 IWM 97 bull puts and a March wk 1 RUT 1020 credit spread in personal acct. A ES Feb wk 3 1810 bull puts was filled while I left early to school. It was intend for a rescue of 1850. It was an unusual day for the month end. I wasn't quit prepared for it.
Grains pushed to new lows across board only recovered partially before closing. Corn had a good bounce while wheat held $5 level after testing 497. I didn't have much activity except closed one corn Mar contract.
I will review this week and month tomorrow.
No comments:
Post a Comment