Blog dedicated to ETF and Index option trading strategies using credit spread and money management.
Wednesday, October 21, 2009
10/21 MNX Iron Butterfly
MNX pushed up intra-day, reaching the 1 st. deviation point. I got an alert and checked out the market conditions. I've noticed that RUT and SPX were not following suit and that the FinViz map was not that bullish, also noticed the VerticalSolution chart was starting to pull back.
Result: I avoided adjusting intra-day and getting whipsawed. MNX finished the day flat.
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ps: Thanks to my Lawyer friend and avid reader Chad for the disclaimer!
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