This is a short week due to the Easter Friday. I closed this light week with $1000 profit and no losers. I didn't add any Karen style positions as I planned last week mainly because of margin concerns and fees associated with such positions. In terms of return on capital I figure that 6-7 weeks of holding at 4-5% ROC ($450/10K/50 days) is less than 15-20 days of 2-3% ROC. I have more margins to use next week. I will use some for Karen style positions to lay out some foundations. Today's job report was only half of expected (124K vs 250K). We may see increased volatility on Monday. I will consider to sell some puts when and if ES/SPX come to test 2010/20 area. I will try to exit my ES April 4 1930, 1920 at b/e and reload. I added Thomas's weekly SPX vertical put spread to my trading as a scalping method. So far I had one week winner and yesterday had a bad fill of $0.25 at closing.
Grains have worked in my favor by and large after USDA's planting report last Tuesday. My plan to reduce wheat puts before the report worked well. I am almost out of soybean now.
We may see some increased volatility early next week. I must watch my risk and don't get carried away. The key for ES is 2010 area.
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