11/03 Daily Summary

It seems we're easing off from the down-side selling pressure, we had a couple of quiet days and a relief on the 5-Day volatility chart. This is a very welcome pause. I've read a nice posting on the Trading the Odds blog and as per Frank's study, the odds favor the up-side prior to FMOC meeting.

The key question to me is, would an up-side movement be followed by a lower volatility? Not sure this would be the case during the FMOC meeting, but then again, we'll know the answer shortly.

Position's Summary
11/03 MNX Iron Butterfly
11/03 NDX Iron Butterfly - Paper

Price Action & Charts

11/03 MNX Iron Butterfly

Trade is working its way for recovery. I've orders to ease off on the the negative deltas if we move to the up-side. Looking for volatility do continue to drop if that's the case.

11/03 NDX Iron Butterfly - Paper

Trading is going well, it would be much better off without any adjustments at all. I'm working on reducing my urge to touch up the positions.

11/02 Daily Summary

The day started off bullish, but quickly faded away. This might be a sign that the bear is still out there and looking for food. I noticed we were fading back when I saw loosing strengh on the VerticalSolution forecast.

Position's Details:
11/02 MNX Iron Butterfly
11/02 NDX Iron Butterfly Paper

Price Action & Forecasts:

11/02 MNX Iron Butterfly

MNX is still in the game, I'm looking for some consolidation at these levels, that would enable us to recover, specially if the Volatility backs off some.

11/02 NDX Iron Butterfly Paper

NDX is centered in the position, only one small adjustment because I over-did on the up-side.

10/30 Daily Update

I totally forgot to post an update on each position last Friday. Well, I closed the RUT Iron butterfly beyond my max loss, the MNX position is still in the game and I'm looking for some sort of a consolidation here so that it can recover.

Price action was unusual for a Friday, but we had another 2 st. deviation day on both RUT and MNX.

Price Action & Forecasts: