Risk on trade today. China back off vacation. Some headway w/ some European banks.
Market likes the risk on trade for a Monday. Dow Futures have no real resistance until 11,450. Right now we are at 11,300. Profitable trade selling that trend line at 11,120 was good one day scalp.
For now, I stand aside and look to sell into that 11,450-500 level.
The cheap corn calls I suggested buying last week are looking good. I am keeping half and taking half off in front of Wednesday’s USDA.
Today I like buying March bean calls as well. I liked buying a $2.00 break. I really like buying a $3.00 break. With the options, vs. futures, we have 137 days to recover.
I really like buying calls here.
As always, use your stops. Good ideas are only good if you make money on them. Its more important to make money than be “right”.
CER