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Can Start Buying Natty Now
- Thread starter Comanche
- Start date
No bad news, just a combination of a few things.
-People that went home long last Fridays close had a .20 gap against them Monday, thus potentially keeping a few players out for this weekend.
-The short fund I have been talking about has a considerable financial interest in keeping Aug down into next Fridays expiry. His position is on ICE, therefore he doesn't need to close out.
-A lack of buying today from the long fund.
IF short fund can hold it down for 1 more week, his big exposure comes off the books, eliminating his need to hammer the rallies.
The end game is still the same, we cycle up one more time before falling off into the shoulder season.
-People that went home long last Fridays close had a .20 gap against them Monday, thus potentially keeping a few players out for this weekend.
-The short fund I have been talking about has a considerable financial interest in keeping Aug down into next Fridays expiry. His position is on ICE, therefore he doesn't need to close out.
-A lack of buying today from the long fund.
IF short fund can hold it down for 1 more week, his big exposure comes off the books, eliminating his need to hammer the rallies.
The end game is still the same, we cycle up one more time before falling off into the shoulder season.
Thank you Comanche. Very interesting point of view. How do you know about the funds ? And why does it come "off his books" next friday? Would explain this to the noob I am ?
I am trading only from a technical analysis side and I am brand new to Commo' Futures...
By the way, is there some good book to read in order to start trading Commodities ? I just read Jim Rogers' Hot Commodities but there was no practical info in it for daytraders...
Thanks
I am trading only from a technical analysis side and I am brand new to Commo' Futures...
By the way, is there some good book to read in order to start trading Commodities ? I just read Jim Rogers' Hot Commodities but there was no practical info in it for daytraders...
Thanks
Quote from Sequoia:
I am trading only from a technical analysis side and I am brand new to Commo' Futures...
I hope you get out ok on this position, natty is really not a commodity for a newbie to cut his teeth on.
Please tell me you are trading minis.
Here is a great blog with tons of insight on the entire energy complex.
http://www.zmansenergybrain.com/
el surdo
Thanks for worrying on my Equity but I am not trading futures or eMinis. I am a newby and I am making my teeth on French derivative products (I am French, based near Paris), with some small position, no leverage. For me, one $cent is one â¬cent on NG. Trading it as if it were stocks if you prefer. It could even fall to 4, that would not be such a pain for me.
Thanks for the blog link. Very interesting. I'll bookmark it.
Thanks for the blog link. Very interesting. I'll bookmark it.
NOAA announced that the La Nina ocean-cooling phenomenon in the tropical Pacific, which generally brings a more active Atlantic hurricane season, will be mainly absent for the remainder of the northern summer.
Forecasters had detected a La Nina returning, back in late February, but the cooling slowed significantly during the month of June.
Forecasters had detected a La Nina returning, back in late February, but the cooling slowed significantly during the month of June.
Quote from scriabinop23:
what a bad day...
bought 6.62 at open or intraday scalp.. only to endure a selloff.
also decided to cut half the position at close, to avoid the inevitable gap down.
this is not going anywhere yet.. maybe after august expiration.
Good call on getting out before close. The gap down you talked about happened this morning - it was pretty huge. Today has been a wonderful sell off - I started shorting right from the open. It would be nice if we close below 6.034