CHIC“Well, they are ChiComs after all, so what do you expect!!?”
So lemme get this straight … a “social website” in China last night says the
ChiComs are getting ready to lift COVID restrictions, and of course crude oil
picks this up and the machines go berserk to the upside … get to the New York
session, and there ain’t Mr. Jack Squat to the range … meanwhile, over in Natty
Gas, the entire days range exceeded as the New York session gets underway,
with price getting mauled via above average warmer weather forecasts for both
the Midwest in the U.S. and Central Europe for November … “so sorry, no short
squeeze for you!”
Oil greets the New York session with a blast straight up … that rolls over and it’s
straight down as the DOW30, and “Stock Bellies” in general get clubbed … now
into the 12th day in a row of price stuck in the mid 80’s … it’s hard for me to see
how oil goes lower from here with any “oomph”, but by the same token it ain’t
rallying either … it’s just one screw job after another day after day, and those that
hang around one second too late get mauled … still plenty of room inside the
ranges, but when markets [including energy] go straight, there isn’t anything you
can do about it except wait for corrective activity and then go with the algorithm
signal as the market continues its trend … however, lately we haven’t been seeing
this … corrective activity simply goes to the other side of the range, and what
we’re left with is the “Flying Wedge of Death” [FWD] in all its infamous glory in
gouging accounts to pieces … in other words, CHOP!
It’s a long day in energy,, so a lot can happen you don’t think has any chance of
happening … so you can’t say “never” when trading crude or Natty Gas
… trading conditions in both oil and Natty Gas at Turnkey today have been
excellent … given the complete clubbing of price like a baby seal at a Japanese
whale hunt in Natty Gas, I’m surprised the spread has remained as tight as it has
… so far, a whopping 70 cent range to the downside, where short algo signals
were solid gold bars … not that oil & Natty Gas correlate heavily, cuz they don’t,
but when oil can’t move and the other goes completely bat shit crazy [BSC] the
other direction, I’m not excited at all to take a signal I think might just be wrong
and a “false positive” … hindsight is wonderful in trading, and despite warmer
weather forecasted, I didn’t see this “Thelma & Louise” event unfolding … well,
live and learn in Natty Gas is all there is to say.
And so natch, with oil trading relatively “tight” coming into the New York session,
I switched my focus from gas to oil … and for whatever reason the talking heads
wanna give, oil ain’t done Mr. Jack Squat the entire day … “a little song, a little
dance, a little seltzer down your pants”, and you’d be singing about oil today
… as wicked a chop you’ll ever see, as both sides of the price equation battle it
out here in the mid 80’s … now into mid afternoon, oil should be having around a
$2.70 range for the New York session … instead, we’re lucky to see $1 and some
small change … maybe it’s the FED waiting, maybe it’s another reason or group
of reasons … dunno … what I do know is that we’re a good 60%+ underneath the
New York session 20 Day Range MA, and that spells major league trouble if
you’re attempting to scalp or day trade this puppy, cuz nothing can move
outside the tiny FWD before it swings quickly the other direction.
Oil disappointing today, but I can’t blame bulls for not wanting to believe bullshit
out of China from some dumb ass website run by Chicoms … on the other hand,
just a blistering day in Natty Gas to the downside, where sell signals galore
should have made us a fortune … like I said yesterday, no bias in the algorithm
to either side, and shorts are as legit as longs … so far [knock on wood], pricing
here at Turnkey a pleasant surprise on the VPS MT4 platform, where you’d be
hard pressed to find it any better anywhere … and I do mean ANYWHERE, cuz
it’s that tight … let’s hope it stays that way! … and while I was focused on oil
today, Natty Gas has me stoked going forward!
After oil briefly jumped with “Stock Bellies” pre market when the “Chipmunks”
were placing open orders for the NYSE open, and then at the NYSE open, that
was it for oil … it corrected alright, right back down to where it started … and
since then, I’m staring at 4+ hours of mostly a 40 cent range, with some sell
stops getting tripped on the breach of the m30 intraday low that lasted less than
a minute or two … great, something that’s supposed to move multiple dollars,
stuck in a 40 something cent range up/down, yo-yoing like a sine wave?
… seriously? … OK, I’m viewing this as a “one off”, something we see on the
left slide of the probability curve in “the Twilight Zone” where nothing moves
… quite frankly, I don’t see how it could possibly be any worse, but since this
is oil ANYTHING IS POSSIBLE.
Natch, no trades today in oil or Natty Gas for the PAMM … can’t get any signals
… oil cuz it can’t move to save its life, and Natty Gas cuz it’s BSC before & during
the day’s trade to the downside in a waterfall of epic proportions … we just
couldn’t get any halfway decent corrective rallies to sell via the algorithm, and I’m
not selling anything in the hole on a down red spike … starting tomorrow, I’m
gonna get an earlier jump on oil, and start following it around 6 AM EST, instead
of 7 AM … that extra hour might not produce trades, but it’ll keep me focused
quite nicely, and besides, I’m up anyway by then so why not? … FED Lounge
Lizard day tomorrow, but I don’t think it’ll have any effect on Natty Gas, and maybe
a minor effect on oil if “Stock Bellies” go BSC up or down … we’ll see … in any
event, it’s good to be in the energy complex where the action is hot and heavy
… oil resting today, but rest assured it’s not gonna stay that way, and Natty Gas
is normally BSC to begin with, so there’s no shortage of tradeable action in these
2 markets … the key here is FOLLOWING THE ALGORITHM, and not deviating
from its rules … do that, and the money will pile high to the frickin’ moon … and
even though I laid out the algorithm in a blog post earlier, come this Sunday there
will be a new PDF manual for everyone to read and follow … onto tomorrow and
the Lounge Lizards!
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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