Cut Out the Noise

The futures expiration day is always painful for me. I have to roll over my current month position to the next month and I never manage to get it right. Today I Long Rolled at a cost of around Rs 16. The moment I did that, the rolls started dropping and in the last 30 minutes there were times when one could have rolled at around Rs 6. A Rs 10 loss for not waiting another 30 minutes.

 As things stand, I am long both on STT and LTT. After the rolls, the stops for both STT and LTT have changed. My STT turns short below 5561. But if Nifty July futures trades above Thursdays high (5667) then the STT turns short below 5619. The LTT changes its trend below 5561. So if Nifty Jul futures falls below 5561 I would definitely be out of my long positions and go fully short.

If you are trader and based in India then you cannot but be trading Gold and Silver on the MCX. I do that too. My buy levels for Silver Sept futures on the STT is 53320. Gold is a short too and I will cut my short and go long only above 22228.

We are heading for a great weekend of sport. Some excellent tennis by Tsonga yesterday saw the great Federer getting out of the Wimbledon tournament for a second year in a row at the quarter final stage. After the third set, it did not look like Federer had any answer to Tsonga's all round game. After a long time I saw some decent serve and volley. But nothing compared to what Edberg or McEnroe could do in their prime,

You might be wondering why I am talking about tennis and not about Greece or Euro or the jobless data in the US. I guess the mind can take only so much of the noise that is going on out there. Best to cut all of that out and watch some decent sport or a decent movie. Maybe Transformers 3 D?

Current Position   STT Long   LTT Long 

STT: Cut long and go short < 5561. If Nifty Jul trades above 5667 then cut long and go short < 5620                                                             LTT: Cut long and go short < 5561.