mandag 25. juli 2011

Trading recap Friday 22th of July

Ended the week up 2,15% and now in total up 17,97% over 7 weeks.
See the full trading log here

The S&P 500 Emini futures (ES) was not able to close the gap at 1344.25, but recovered from early weakness to close at 1334. The 1327 level that was a prior resistance level is now support going forward. In general it looks heavy towards 1350 for the moment and volume is not really at the level I want to see it to break higher. Will be very interesting to see what happens next, I think we are at a very key level right here and I reckon we could see a pretty large move in either direction. The near term trigger levels are 1345 to the upside and 1326 to the downside. The on the next frame we have 1352 and 1317. The big range is 1252 to 1361.
I have attached the chart below in the ES

Trading wise I closed the long Corn futures early in the session and the total gain for the Corn structure turned out to be 1700 USD, pretty good.

Looking at ES, the 22 July strikes expired today and I bought back all except the 1330 calls that were exercised into shorts at 1330. Since I have bought ES on the way up the sells at 1330 were netted against open longs.
I am net long 6 ES futures. I also sold some 1345 calls for expiration next Friday as I saw that the 1345 could not be taken hike. Made sense to sell some calls in the upper end of the range in case we drop back down.

I also sold some 1550 puts in the Sep Gold (GC)for 10 per contract.
Good Luck

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