tirsdag 19. juli 2011

Trading recap Tuesday 19th of July

The trading log has been updated, please click here to see

I am now up 16% in 6 weeks, not bad.

Made 2 trades intra day, long ES and long Corn for 212,50 USD profit.
I also sold some 1295 puts exp Friday 22 July, early on in the session. Then I added 2X short 1320 calls for Aug and 2x 1320 calls for 22 July. I also hedged these calls by buying ES at 1319, 1322.50 and 1324.

The S&P 500 futures moved higher as I expect following the successful test of 1293.75 key support yesterday. It gapped higher on the open by 8.25 points and broke above the Friday high of 1315.50, extending to a high of 1324.25.
What is next? We have a resistance up at 1327.75, which is last week's high.
Then we have gaps at 1329.50 and 1344.25.
To the downside we have support at yesterday's high of 1308, actually open gap as well, followed by the low at 1291.25.

Crude broke above the 97.74 resistance level and my short bias is a bit dangerous now. I am in fact not much short though as the delta on my Crude structure is on short 0,3 contract at the moment. Ref Crude at 98.30

Corn had a wild session. It gapped higher 23.25 points and basically just traded lower for the rest of the session, ending up only 3 1/2 points at 699 3/4. Given the volume also increase this price action is quite bearish in my view. I am still looking for the gap fill at 669, meaning a down move. See chart below

Good Luck

2 kommentarer:

  1. PEK, Great show.
    Could you maintain the spreadsheet as a google doc? It can be published as a self-updating web-page.

    SvarSlett
  2. Hi,
    I have tested to update as an google doc, but the formatting is a problem. I will look more into it this week.
    Thanks for the tip

    SvarSlett