Randolph Capital Trading Management is a web site designed with traders in mind. Here, you will find charts, commentary, video's and general idea's related to the market on whole. This site is also a record of 'some' of my trades (not all) and any interesting charts that I may come across. Enjoy.
Sunday, September 12, 2010
Short 1112.5 and 1121.25
Added size - 1121.25.... low risk. Average is around 1119.
Your posts have been amazing man. Just curious though. You do post your charts and some explanation, but i have rarely seen the real reason behind your bull/bear mode. I'd really appreciate if you could share your basis for such action.
Hey Jason, Thanks for the kind words. I'm 'mostly' a technical trader but I will make a decision to enter a trade with factors that range from sentiment and logic to panic and even tape reading. I also give weight to what the recent action in the USD/EUR, Vix, 30-year and the commodities area's - usually gold - has been doing.
i.e. at the moment I'm short a starter position in at 1112 in the dec. contract. IF you look on an SPX chart, you'll see that was the price we closed at Aug. 10 before the gap down. If I like what I see in the next couple of days, I will add. I always add in quarters and I never go all in a one spot.
The Aug. 10 to 11 overnight session created a gap down that today's gap up covered. I find this interesing. A lot of people were burnt on the Aug 11 open (7 of 8 consecutive green candles) - the reason for the hard down candle the next day so we should see some res. as the last of the dreamers get out at break-even.
Right now, everyone is looking at the 1040ish to 1120's range so we may get a stop out into the 1170's or higher.
Something else that is interesing. There is an outside chance of a gap down tomorrow which would leave today's gap up green candle as an island reversal. Something to watch for. J
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Added size - 1121.25.... low risk.
Jeff,
ReplyDeleteYour posts have been amazing man. Just curious though. You do post your charts and some explanation, but i have rarely seen the real reason behind your bull/bear mode. I'd really appreciate if you could share your basis for such action.
Thanks man. And keep it rocking.
Cheers
Jason
Hey Jason,
ReplyDeleteThanks for the kind words.
I'm 'mostly' a technical trader but I will make a decision to enter a trade with factors that range from sentiment and logic to panic and even tape reading. I also give weight to what the recent action in the USD/EUR, Vix, 30-year and the commodities area's - usually gold - has been doing.
i.e. at the moment I'm short a starter position in at 1112 in the dec. contract. IF you look on an SPX chart, you'll see that was the price we closed at Aug. 10 before the gap down. If I like what I see in the next couple of days, I will add. I always add in quarters and I never go all in a one spot.
The Aug. 10 to 11 overnight session created a gap down that today's gap up covered. I find this interesing. A lot of people were burnt on the Aug 11 open (7 of 8 consecutive green candles) - the reason for the hard down candle the next day so we should see some res. as the last of the dreamers get out at break-even.
Right now, everyone is looking at the 1040ish to 1120's range so we may get a stop out into the 1170's or higher.
Something else that is interesing. There is an outside chance of a gap down tomorrow which would leave today's gap up green candle as an island reversal. Something to watch for.
J
looks good...i like it here too. Took the 1115 dec.ES
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