Tuesday, July 21, 2015

A New High On Monday 7-20-15

My plan:

ES pushed up to 2122 overnight vs 2119 of Friday's closing. It's expected to see this gap closed during the day. ES/SPX are near to test new highs and likely to break out. RUT is still diverging from SPX.

My execution:

ES/SPX pushed down to clear deck after open, then drove up beyond overnight high for ES. They couldn't quit reach the prior high and got sold out in the last hr. I sold some late Aug and early Sept call spread during the drive up. I was lucky to sell ES and RUT puts during the sell off before closing. Bulls are still in control. I think trades want to see what's behind the all time high in the next few days.

Grains moved down sharply again today despite of good exporting data. I sold one each corn and wheat put for Dec below all time lows. I will consider roll over or close them with 50% profit.

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