Those lovable ChiComs, floating more rumors of COVID restrictions being lifted,
has bolstered energy prices to the moon overnight, with both oil & gas going
orbital … Natty Gas seeing its 20 Day Range MA [daily] being hit before New York
even opens … in fact before Asia closed we had hit that, and then Europe has
just chopped going into New York trading … today is NFP Friday, oh joy oh fun,
so that’s on the agenda for markets as well today … IMHO, it won’t have much
effect on Natty Gas … oil maybe if it correlates with the DOW30, but we’ll see.
Then there’s the make believe NFP numbers, entirely made up of assumptions
from math whiz kids who can’t get a real job in the private sector … why anybody
pays attention to this shit is beyond me … just another bogus scam from
government to make you think everything is fine.
Today sees Natty Gas blow out its range before New York even starts or thinks
about trading, and this is the second time out of four trading days since I’ve
switched to trading it that this has happened … very strange, but with the
ChiComs roiling markets with their bullshit overnight, not unexpected either
… one of the big reasons I like Natty Gas as a market, is the fact that about 90%
of the daily range comes in the New York session, with this weeks New York
session 20 Day Range MA being about 35 - 36 cents … and with that kind of
trading action comes the fact that a 1 lot futures market volume would then
equal $100 per penny movement … outside of crude oil, you won’t find any other
market traded with that kind of action … most being one third to maybe one half
that of Natty Gas in terms of dollars per 1 lot via the range.
Only the energy complex offers this kind of “oomph” on a consistent basis
… natch, I want to see a smallish range when I start my day around 6 AM EST
… it should be obvious why … starting with a very tiny range [the smaller the
better], regardless of price, Natty Gas is gonna move and somehow, some way,
over the New York session [7 AM EST - 3 PM EST] it’s gonna put in its range
… preferably then, we want to see the range then extended OUTWARD AND
EXPAND, and along the way give us the necessary algorithm buy/sell signals
… even with reversals / double reversals, or worse crap like the “Flying Wedge
of Death” [FWD], there’s enough money in small moves to avoid the usual
problems the FWD presents to markets … looking at today, New York sees
30 - 35 cents down, then a turnaround [50+ cents] to new highs for the day,
thus [so far] an approximate 57 cent range … and that range represents $5,700
per 1 lot of volume!
Well, the action in China via the Chicoms didn’t deter or hinder the action in New
York, which saw big moves down followed by straight up … I didn’t trade today
cuz I haven’t been contacted yet by management on the complete criminal fills I
received from the new Coinexx / Turnkey house in crude oil, a day after their
idiotic merger … I keep being told I will get a call back, but it hasn’t happened yet
… maybe later today, I dunno … regardless, come Monday I’ll be trading Natty
Gas, and if they’re late calling me and I’m in some kind of trade, fuck ‘em they
can wait … take a number and wait assholes, that’s how I feel about the situation
… from what I see, I can’t imagine us getting mauled via fills, but I want to be on
the record with them of what’s gonna happen if I get hosed … I’ll be this new
firms worst nightmare going forward … but we’ll see … I backed off Natty Gas
trades today not cuz of anything other than the fact that the range had already
been put in when I got to my screen, and that has a high probability leading to
chop … well, not in energy specifically Natty Gas … live and learn mi amigos,
live and learn … and cuz of that, I turned my attention to the DOW30, where we
got NFP and all the other horseshit going on that is absent in energy trading.
BTFD for no reason, followed by FED PIE HOLES throwing cold water on any
pivot or rate pause … down goes Frazier … given the fact spreads are higher,
and we got a new scam house to deal with in terms of pricing, I passed on the
DOW30 today cuz I don’t need 2 days in a row of getting bent over a railing with
shit fills and slippage from Hell … never could see a decent place to get in, and
besides that I spent most off my time observing Natty Gas … watching and
observing that market, and you’ll never look at the idiocy of “Stock Bellies”
again.
It would be nice to have a viable market in crude oil, but I’m not holding my
breath with Coinexx / Turnkey, or whatever the Hell they’re gonna call it … may I
suggest “SLIPPAGE FX” as the new moniker … if the fucking shoe fits, wear it.
Next week sees me hit Natty Gas hot & heavy … Blog update on Sunday, don’t
miss it! … 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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