My plan:
Indices futures made a large swing overnight. Now ES is parked at high (2074) of yesterday's closing. It looks like indices are moving to the next balance area if they can close above firmly for couple of days. Last all time highs may be challenged soon. Watching for possible double top and fighting there. My plan is to monitor risk on bear calls and add sell puts to make more strangles for March positions.
Grains are still range bound overnight. USDA export data released this am didn't cause any large moves. I will continue to reduce my sizes and risk.
My execution:
Equities moved up on Ukraine cease fire agreement and delayed decision for Greece debt, plus the technical setup. ES crossed 2081, the last CHVN. Now the new high is on sight. There are two possibilities on this challenge of new high: a sell off or a run up never look back. Be very cautious about adding new bear calls before a clear sign of exhausting. I had 2 sets of SPX Mar end 2190/2200 bear calls sold at $0,70. The set in Etrade was after cash closing. I wanted to have some premiums in my account so bad so I lowered my entry from 0.75 to 0.70. A bad habit and emotional driven act. I would rather miss it or may get a better file tomorrow.
Grains are still in range bound. I have 8 positions closed with one Soybean in May. The realized profit is $2200, a nice change of mood. I am watch the seasonality to adjust my positions accordingly.
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