Tuesday, March 19, 2013

Today's trading & FOMC day tomorrow

Today's trading was unusual in that I have a bunch of equity positions on at the moment. I have positions in the following -

62C in $ECH (April expiry)
34C in $FXI (April expiry)
40C in $ILF (April expiry)
790C in $GOOG(expiring in 9 days)
$XIV one lot at 22 and another lot added today at 21.2

As you see, everything above is a long position because selling ahead of FOMC tends to actually bullish for the market after the announcement. Lets see. I will try to get out of some of them tomorrow.

I had a little scalp in ZB intraday, but thats about it.  I traded poorly, I obviously didn't catch the ES sell off, but could've shorted retracements to the 21 EMA but I just stood aside.

Lean hogs broke down, so did RB, so my last 2 posts didn't translate into trades, but am still watching lean hogs.

Tomorrow is Fed day, few important notes about FOMC days -

1. If it gaps down, almost 100% odds of a gap fill in ES.
2. If it gaps up, dont try to short it for the gap fill.

Some other great information here on FOMC days - http://quantifiableedges.blogspot.com/search/label/Fed%20Study 

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