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Also the move happened when there was absolutely NO liquidity so if you were a big swinger there were no size offers to lift. When moves like this happen this screen gets very very quiet.

And just to give our fellow home gamers some perspective here, the ATR on RB (Dec/Jan) is about 45 ticks a day. Today's "after hours move" was more then 20 times the daily ATR!!!!!!!!!

Great article from Reuters on the move in coal. http://www.reuters.com/article/us-coal-price-winners-idUSKBN12V011

Yeah this is really suspicious. The news comes out right after markets close and on delivery day. And this BS caused almost every spread in the energy universe to go apeshit. I was luckily on the right side of the front heat spread. Did you catch any of this logicaltrader?

04:51:02 PM Colonial mainline shut due to fire. OMG this shit is so suspect.

I was just going to ask you about that! WTF was that shit. Even Dec/Jan popped 1000 ticks! I was long the heat spread and quite by accident looked at my screen and saw the spike and sold my longs into that spike thinking it was a bad print or something and the shit kept going. LOL.

No. He has been a perma bull in all things energy for awhile.

Why is it every time Fisher says to buy oil and gas they completely tank? LOL. I remember when oil was at 95 and he said to sell naked puts on them all the way down. Almost the next day oil went on its down move from 95 to 75.

The market is by and large long stock and long puts. Which is why there is limited follow through to the downside. It's cheap to own downside puts here so it's stupid to not be long them. The long trade is the expected post election pop and the performance chasing trade into year end.

On which contract? This is the point I keep making. Each month in natural gas is like its own unique market. It's very unlikely Dec is going to 2.50.

The dynamics of crude and gas are very different. You can't chart gas as the above poster did because of the contango. There is no continuous price. There is a pretty steep winter contango still in natty although it has come in quite a bit due to the weather adjustments.

Here is the link.

Did you guys see this? Fisher trying to stay busy down there in Miami eh? :) I have not looked at the components of this index but 40 names is too big. It should be 8 to 10 names. Too many stocks just becomes broad market index replication.

https://www.elitetrader.com/et/threads/tape-reading-chat-room-cont.56373/ This was the quintessential thread on tape reading and I was happy to participate. You will be able to tell from reading the thread why one can't do this anymore. But this thread is better then any book you will find on...

Got Coal?

One should not overestimate just how long and complacent most market participants are right now. The room is full and the door out is small and appears to be jammed.

Only if you have a time machine.

Jan vol is rich. Sentiment is not bearish, it's pretty bullish. Hedge funds in sept had their most bullish position since 2014. Supply is right at about 4 trillion cubic feet but injection rates are slightly tighter this year then last. The northeast is getting their first snowfall now so...

I don't know why he used the worst possible market (ES) to demonstrate this new indicator.

Well Fisher got his late day selloff...lol.