10/22 Daily Summary

I didn't quite pay much attention to the market action Today, as I checked prices mid-day, the FinViz chart was showing a bullish mood, but that wasn't such bullish on the VerticalSolutions chart, so I figured we'd be pushing close to 1 st. deviation, which was ok given the fact I intended on adding to my positions Today one way or another.

Notice how the Financial sector was pulling everything up.. That's very clear on FinViz and VerticalSolution charts. That's Another reason I added both to my daily study, they allow me to see if price action is isolated to one specific sector or if it is something happening accross the board.

Both trades are doing good and getting the benefit of this range-bound environment.

Position's Details:
10/22 RUT Iron Butterfly
10/22 MNX Iron Butterfly

Price Action & Forecasts charts:

10/22 RUT Iron Butterfly

Added the 2nd half of the trade Today, the position is doing very good.

10/22 MNX Iron Butterfly

Added the second 1/2 of the position Today, so far this trade has been going on very well.

10/21 Daily Summary

As MNX was pushing higher intra-day, I noticed that move was not confirmed by RUT nor SPX. The FinViz map was not that bullish and the VerticalSolution chart was showing decreasing strengh. That led me to wait for the end of day before touching the position, sure enough MNX faded the move and closed flat.

One thing that is calling my attention is that RUT has become active in the past few days, I've seen 2x 1 st. deviation days in a row and also noticed Volatility has picked up by about 8% on my iron butterfly. Let's keep an eye out for it, call it a yellow light in my dashboard.

Position's Details:
10/21 RUT Iron Butterfly
10/21 MNX Iron Butterfly

Price Action & Forecasts:

10/21 RUT Iron Butterfly

Rut has started to become more active again. Notice we had about 2 1 st. deviation days to the down-side, and volatility has picked up by about 10%, this to me is a yellow light on the dashboard.

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.

OCT/09 Trades

October was a great month! The market moved around (as always) but didn't breach the volatility cone for MNX or RUT positions. I over-adjusted the RUT trade, and to some extent the MNX, so that will be my focus for NOV: Let the trade run a bit more.

Having only 2 positions is great! Allows me to really focus and doesn't take up too much of my time. I'm focused on Iron Butterflies as that's the strategy that better fits my personality.

All and all, profit is a profit and a profit! :)

10/20 OCT MNX Iron Butterfly (day-by-day review)
10/09 OCT RUT Iron Butterfly (day-by-day review)