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The good news, ES moved back up and I got out of my yesterday's MES position ( right before Fed minutes) with some profit. The bad news CL call gave up most the profits from yesterday. It had moved up nicely in the morning, but as the inventories report came out, it fizzled. I did put a profit limit sell, but it did not move high ( or fast) enough to fill. I would have taken anything if the top of channel was touched.
There is another chance now to buy this call if missed the first time.
Below is the ugly range of the ES, I will avoid taking any new trades until we close out of this range:
An okay day, with not much to do but wait. I am up $37 ( yesterday and today) and only holding the CL 59.5 call with 27 days to expiry.
China news and Trump help my MES trading but did not do well on my CL options. The good news is that I have plenty of time left on those options and we will have some news by then that should push these calls up.
I took two set of trades on MES, both news related. The first I was a bit late coming in, as my platform was still loading as the news is screaming in the background. Not much to explain for the trades. News come in and scaled in and scaled out. The first set of news had an offsetting Fed news right have tariff news. On my first trade I was up about $100, then gave most of it back with some the Fed news that followed.
I am up $131 on my closed trades today. An okay day with some stress over the CL pricing.
Two news trades (multi lot scale in and out) today. It was not much of a move on both with very little follow thru. I am still holding my painful CL calls, but strongly believe we are due for a big move up in CL within 5-7 days.
Low stress, low profit okay day. I am up $76 on my closed scalps.