A view on commodities

[DSM]

My SL got hit on HPCL however, with crude trading -1.87, I still think HPCL is a buy at 507.40 with SL 501.00

Edit :

HPCL and BPCL should be an opportunity to go long for the same reason that crude is trading down.

 

[Catch22]

Thanks for the posts :thumb:

Silver and gold may open gap up today. just a guess..I have bought Micro last week and may hold short term .Will be keeping a close watch on Dollar and a few data .

Profit booked as the trailing sl at 850 got covered .Next round of sl will be at cost for the rest.[ hence no loss ]
Am looking for an opportunity to go long in crude .If 5131 is not taken to day , there may be a chance for couple of scalp trades,[I feel ]
[HPCL would have been as the market was correcting ]

 

[DSM]

Catch, In the current scenario, usually better to cash out on GapUp - if holding position, as there will likely to be profit booking. Commodities are overall generally weak. Crude made smart move up from a GapDown on Fri, but is now trading -1.90% down. Silver from a GapUp today has given off most of its gain. As you will note from the chart, there is a lot of selling pressure at higher levels. So am expecting a down move.... and would not go long on swing basis on crude till a clear uptrend is established. Better to keep away from overnight positions due to volatility. Best and safest trades are to be had intraday. My 2C.

Profit booked as the trailing sl at 850 got covered .Next round of sl will be at cost for the rest.[ hence no loss ]
Am looking for an opportunity to go long in crude .If 5131 is not taken to day , there may be a chance for couple of scalp trades,[I feel ]
[HPCL would have been as the market was correcting ]

 

[Catch22]

Catch, In the current scenario, usually better to cash out on GapUp - if holding position, as there will likely to be profit booking. Commodities are overall generally weak. Crude made smart move up from a GapDown on Fri, but is now trading -1.90% down. Silver from a GapUp today has given off most of its gain. As you will note from the chart, there is a lot of selling pressure at higher levels. So am expecting a down move.... and would not go long on swing basis on crude till a clear uptrend is established. Better to keep away from overnight positions due to volatility. Best and safest trades are to be had intraday. My 2C.


THANKS A Lot bro I will not go long :thumb:.And for now no trade .All covered .

 

[Catch22]

Sharing this info received from broker ...
(13Oct2014 21:38:16) : Trading Holiday Alert: October 15th 2014 Wednesday, MCX and NCDEX Morning & Evening Sessions are closed on A/C of Maharashtra state Assembly Election.

It's all day Bank Holiday in US today.

 

[DSM]

Thanks Catch. Was wondering. Maybe will go off to watch Haider.... (if the theaters are open)

Sharing this info received from broker ...
(13Oct2014 21:38:16) : Trading Holiday Alert: October 15th 2014 Wednesday, MCX and NCDEX Morning & Evening Sessions are closed on A/C of Maharashtra state Assembly Election.

It's all day Bank Holiday in US today.

 

[Catch22]

Thanks Catch. Was wondering. Maybe will go off to watch Haider.... (if the theaters are open)

HI DSM . Have you been watching the evening charts ?All in downtrend all over again !!!
Guess keeping away from trading would be the best stance for now.
And movie would be a welcome distraction. Wondered Why Haider and not Bang Bang !

 

[DSM]

Hi Catch,

Evening time, commodities are volatile. Silver, Crude and NG have given off their gains. I had closed my terminal early after meeting my target in F&O and had gone off to see the movie today rather than tomorrow, so only am watching the charts now.

Bang Bang is action flick, which I am not fond of. Haider had got good reviews, is from acclaimed director Vishal Bhardwaj's, Sahid Kapoor's acting is good, also the story it is adaptation of William Shakespeare's Hamlet. The movie is bit slow, but was a worth a watch, but am sure not many people will like it. (My friend did not)

Buying crude @5,185 SL 5,165 Target 5,210 5,230 with trailing SL.

HI DSM . Have you been watching the evening charts ?All in downtrend all over again !!!
Guess keeping away from trading would be the best stance for now.
And movie would be a welcome distraction. Wondered Why Haider and not Bang Bang !

 

[Catch22]

Hi Catch,

Evening time, commodities are volatile. Silver, Crude and NG have given off their gains. I had closed my terminal early after meeting my target in F&O and had gone off to see the movie today rather than tomorrow, so only am watching the charts now.

Bang Bang is action flick, which I am not fond of. Haider had got good reviews, is from acclaimed director Vishal Bhardwaj's, Sahid Kapoor's acting is good, also the story it is adaptation of William Shakespeare's Hamlet. The movie is bit slow, but was a worth a watch, but am sure not many people will like it. (My friend did not)

Buying crude @5,185 SL 5,165 Target 5,210 5,230 with trailing SL.

Adaptation of Hamlet? That explains! I didn't know .Haven't been following up on movies ,Have seen Vishal Baradwaj's earlier Shakespearean adaptation of Othello. And Kareena had done a fantastic job .Prefer watching movies at home .[Unless it is a james bond movie! Or one such]
With regard to trades , Usually whenever I enter , I place trailing stop immediately which should cover the brokerage too .So no loss .Trying my best to improve money management skills..May not make maximum gain due to trailing stop , but saves from loss.Like for example movement of crude and NG today.Many a positional trades specially in NG , sl around resistance ,would have been taken ,only to reverse and lose out on good profit .Besides ,I'm not continuously at the computer And so it used to be continuous losses previously.
Have a nice day tomorrow too!! Take care.

 

[Catch22]

For 16th oct 2014--

5:30pm -FOMC Member Plosser Speaks

6:00pm- US Unemployment Claims

6:45pm-US-Capacity Utilization Rate

Industrial Production m/m

7:30pm-US-Philly Fed Manufacturing Index

US -FOMC Member Kocherlakota Speaks

US NAHB Housing Market Index

8:00pm – US-Natural Gas Storage

8:30pm -US -Crude Oil Inventories