Trading Journal – 10th January 2019

DXH19 – Heading towards the 200 DMA? 93.77 is the current marker, waiting to see for the reaction but I would have to think it’s a buy if any of the scenarios come off, aside from a huge *and sustained* share market rally. A deal with China could do just that.

E6H19 – The Euro is still holding above 1.14. Looks like my options will expire worthless at this stage. I’ve left a limit order to sell if there is a spike to cover my cost. If the market breaks through 1.16 then it could quickly go higher, it has been consolidating sideways for quite some time.

B6H19 – The market did continue higher so I would have been stopped out anyway.

GCG19 – Obviously I’m biased (being long) but at this stage just another pull back in the uptrend it looks like. I want to buy more call options but it could move against me. Don’t invest more until it shows a return.

SIF19 – Another very positive day for silver. Could this be a break out?

PLH19 – Huge up day for platinum. Trend is down so wait for opportunity to get short.

HGH19 – bought two copper put options each at 0.0115 and 0.100 (multiplier USD 25k) with a 2.50 and 2.49 strike respectively and 20 days to expiry.

SBH19 – Not something I want to get involved in at the moment.

CCH19 – cocoa seems to be losing the battle, see if the medium term averages can halt the slide.

KCH19 – still finding support at the old low, and seems to be finding more buyers now. Still only coming back to the short term moving average. A good amount of volume done on the 8th January.

OJH19 – OJ finding some support now. I might get a positive outcome yet.

CTH19 – Good bounce from cotton, some newsletters mentioning to go long on a higher low (which I should point out is looking back on a very long term basis – only clear when you look at a 5yr chart).

LSH19 – I have been waiting on 300 for the price of lumber to reach but it’s possible though we may have just seen a higher low. I’ll only know once we reach the previous short term High around 375. The price is finding support around 325 at the moment so I’m not sure if the deep down to 300 was just temporary but certainly the moving averages are starting to flatten out.

ZWH19 – still sideways.

ZCH19 – no real pattern aside from a broad range trading between 400 and 360. So that would say buy at 360 and sell at 400.

ZSH19 – I took profit on this one at 924. The price seems at a cross roads and it is not clear who is going to prevail. Wait until there’s a clear winner and then get back on board.

ZMH19 – indecisive. The price has reached the previous high from the 3rd of December but is still a short distance away from the 200 day moving average. I’m inclined to believe that the will continue higher to the 200 day moving average but have no strong conviction about it going through.

ZOH19 – nothing at the moment for me. Price is being being supported at the 100 DMA which is possibly a good sign – this is the first time since September the price has broken through the 100 DMA which was back at 254. Probably worth buying some 300 strike call options with a couple of months to expiry.

RSH19 – the price bounced off 470 again

CLG19 – a huge amount of volume going through in this rally off the bottom, I can only imagine there are a lot of companies locking in there fuel exposures here. I doubt we have seen the last of the bearish action.

NGG19 – I went long at 2.9830 and then had a change of mind about being so far away from the most recent low and got out at 2.9610. The possibility of waiting through a move down to 2.8730 was too far so I paid the $200 and got out. I now have a limit order to enter just above that low.

LEG19 – Looking a lot more like a genuine move now. Break higher on big volume after a consolidation.

DYH19 – still not getting to the 40 day moving average.

ESH19 – I’ve still got an order in to sell at 2595 with a stop just above 2600 , so if the price rallies higher tonight then it might get filled.

NQH19 – Put an entry order to sell at 6618 (the 40 DMA) and a stop at 6630. I got stopped out on this second attempt to get short on Wednesday. Think maybe I should buy a very short term option, like 2 or 3 days to expiry as a better stop. Still I have only paid $450 across both trades, so they are relatively tight stops.

Action:
– after writing each entry, check whether I need to add an action to my list
– investigate cost of short term options on volatile NQ contract.
– review my daily journal for action items I have missed before sending it.

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