The weather seems to be pretty cold this year compare to last.
Is it overproduction or warm weather?
Is it overproduction or warm weather?
Any idea why /NG tanked so much?
- Thread starter traderjoe999
- Start date
VERY warm weather. There has been no demand whatsoever. I don't know where you live but it's not a function of cold weather per se but area. Meaning that it could be the coldest winter ever in NY or Boston or Chicago but that does not affect overall demand, you need to look at the entire country. Put another way, it would be more bullish for the entire country to be at 50 degrees then just the northeast to be at -50.
Everyone was long nothing more nothing less. When the twtr gurus are long and the retail guys are long and the mailman is long. Only one thing it can do....
Thanks Maverick74. NG seems to be more volatile than CL.
It's a LOT more volatile then CL. Always has been.
Hmm. Next time I'm on my trading machine I'll post some comparison charts. If memory serves NG has been a dog comparatively over the past 18 months or so.
I'll save you the time. Here is the 30 day rolling day stat vols for CL vs NG for 2017.
Attachments
Doesn't do it for me. Will have to check the charts that I recognize. Granted, I stopped looking at NG since the summer. To be continued...