We moved a bit under 1.5 st. deviation on RUT and MNX. One thing to notice is that this move was mostly done in the first hour of trading, after that the market just moved higher slightly. I observed the Vertical Solutions' forecast was lagging behind, showing down-ward pressure, while the FinViz was showing a brigh-green heat map with stronger Advancing vs. declining issues.
This non-confirmation of sorts told me that it was unlikely for the market to push much higher and that if an adjustment was needed, it could be done by end of day. I closed the last remaining short strikes on my MNX and am ready to re-load the NOV iron Butterflies.
Position's Details:
10/14 MNX Iron Butterfly
Price action & Charts:
Wednesday, October 14, 2009
10/14 MNX Iron Butterfly
10/13 Daily Summary
Not much happened in the markets, as you can see, very little movement on RUT and MNX. Notice the 5-day price spike charts are showing a wave-like pattern, that to me indicates we're in channeling mode.
I'm enjoying a bit of a break in between positions, will start the NOV cycle later this week.
Position's Summary:
10/13 MNX Iron Butterfly
Price action & Charts:
I'm enjoying a bit of a break in between positions, will start the NOV cycle later this week.
Position's Summary:
10/13 MNX Iron Butterfly
Price action & Charts:
10/13 MNX Iron Butterfly
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