I started laying the hammer down on the spreads again yesterday after that awful Friday experience. I don't doubt this thing will probe higher, but man we are at some highly attractive levels for the deferred spreads, check em out.
I will if we post a close that is < 21.40-21.50 in SBV09. That's a pretty important demand level. The move down from 24.85 has been pretty brisk and the range has been around 18% for this week. That's pretty impressive. Last weeks commitments report showed, for the first time in a long time, that the non-commercial traders decreased their net positions When I get out of school today, I'll be checking the latest one. I've been patient thus far, and I'm willing to wait a bit more so that I get this trade right.
I'm glad I wasn't watching this one closely. Roller coaster ride would've made me sick to my stomach. Too bad I'm short vol going into the loooong weekend. It'll be interesting.
Flat since 08-30. Looking to re-enter long end of the month if this turns out into base building rather than an implosion.
Any other thoughts? Base building or, fundamentals be damned, is the dive finally happening? Any hard core TA types want to chime in?
It's a tough call man, obviously it is priced in, but to my knowledge we have never been this tight with the supplies even during the runs in the late 70's and eraly 80's. Again, that is just what I have found, I certainly could be wrong. I think we will still run back up top the 24-25 area. I do agree that this could be a key area, play accordingly, also does anyone know is ICE open Sunday night? It probably is, but just trying to check.