Wednesday, March 20, 2013

FOMC day trading

Today worked out pretty much like I mentioned in yesterday's post - "Selling ahead of FOMC tends to actually bullish for the market after the announcement."

We got a monster gap up in ES today, and again, like I mentioned, dont fade gap ups on FOMC day. The end of day selling is worrying for bulls, but lets see how the next few days play out.

I was able to sell the GOOG calls( bought at $22, sold at $28.9) , FXI calls (bought at 2.65, sold at 3.4), XIV (avg was like 21.6, sold for 22.85). I also shorted ZB again over night, which seems to be working out for me lately. I'm still in the 2 latin america ETF positions, so lets see how that works out.

I was content cashing out on existing positions and not getting caught in the FOMC madness, and all in all, I had a good day. For later today, and tomorrow, I'm looking at:

ZL, break out above 50 should bring 50.70 into play:

I have no real reads on other markets at the moment, so I'm going to wait for setups. 

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