The Student Loan Ranger

Haven't traded much today, was out most of the afternoon. Caught a small sized short in RIG based on a double top with serious divergence when oil was pushing on for $50. Needless to say I shorted both, and the oil trade is where most of my money has been today. Had a $100 loser in dow futures at the start of the day which I turned around with a low risk setup.

Charts etc..

It does not get any easier than this:


I also traded that bull flag (circled area) long, and sold out and scaled into a short above 49.75 for 6 contracts, covering quickly. I am currently scaling in long at 48.775 looking for a quick scalp.

RIG trade was so easy. Double top, divergence, and it's commodity running into major psychological overhead.

Here's my blotter. I'm not up that much, it's $1600 realised and I'm just over break-even on that oil trade.


Edit 10 minutes later GMT
Scalped out the oil as predicted, another easy trade. Done for the day. Markets are easy when you are quick enough to trade them.


Edit 19:25 GMT
OK OK if I'm in front of my computer; I'm trading, no doubt! Got it to nearly a $2500 by scalping out the consolidation range in the dow futures from the last half an hour. Current support at 7280 - looks toppy at 7300 (close and reverse area). I am now hesitant to scale in long at 7280 as we are looking extended.

Mammoth sell off in bonds today! Out of the long term wedge and looking to go lower. Watching 123'100.