Over the month of Aug I have been trading directional spreads, neutral spreads, and speculative spreads. My goal was to add one spread everyday, (some I didn’t post) but I tried putting one on each day. At times I found it hard to add everyday, sometimes I can be extremely stubborn on market direction or the fact that IV on some trading instruments were not worth trading. I did however find a way to come up with 29 trades for the month of August, not all are closed, but so far only 2 spreads lost money.
I want to share my success with other traders, so I have decided to post every single one of my trades for the month of September. I will try to set a new spread everyday or some combination to hit 30 trades for the month. And I will share my performance of each spread on a new page that I will create.
This morning the futures are pointing to a higher open on anticipation of some positive news coming out of Jackson hole. Which I think will be a non-event, and the true market action will be Sept 13th. I guess we will have to wait and see. One important area to keep your eyes on is the 1375-1380 level, which represents several areas of support. I think we could get down there some time today or next week. One reason the futures could be up this morning is do to the old saying, buy the rumor, sell the news. So when the news does come out, maybe we can see some market reversal to the sell side.