The markets didn’t let us close out the month and second quarter without their comedic brand of razzle dazzle. A relatively quiet market environment gave way on Monday to a sell off, spooking investors (Me) of he possibility of a replay of February. The week looked like this as told by a chart of the E-mini S&P 500 futures:

 

No wonder we are all exhausted. When it’s all said and done this week we should end up right back where we started. Tisk Tisk Mother Market. You took me for a ride that I wasn’t prepared for. I’ll be the first to admit that Monday caught me offsides and sent me home with heartburn. My option account which is heavily stacked with OTM premium swung wildly, something I am numb to when I am ready for it but I wasn’t this time. I owe a lot to my trading mentor for outlining probable scenarios on how the week would play out. I went with his road map and it played out perfectly. A gentle reminder that my decade of screen time is dwarfed by his two decades. While I have seen most everything the market has to offer, it still catches me off guard on occasion.

I am busy closing out some end of the month positions for small gains while letting others expire worthless. I am happy to report that today I will close my best ever futures trade. I put on my /ES contracts at 2695 and continued to hold overnight (something I have never done) and am still in as I type this. By the end of the day, it should net a $4500 profit which will make up for some losses this week and some.

Look for a post for July setups and themes coming soon. I think we have some good ones.

Enjoy the weekend and be safe out there.

Thanks for reading.

OC