Yep, getting slapped around in this pair as we speak, slightly up, but that was only after a touch of my point B. This pair, at my charting resolution, is fun to watch
I don't trade natty. You know I fear the limit down/up thingy, but when Fish said a weather event might make natty spike, I said, well, duh! But, I had to remember weather in the Midwest and Northeast makes news headlines, and I may have become indifferent to mother nature moving markets. We take it as a matter of course. Especially downstate.
Here is what we have so far today. Failed A down on the bonds to the tick this morning. Euro failed A up as well as ES. Gold failed at the A up to the tick and Nat Gas confirmed A up. And for the King, we have some strength in AAPL today.
You can trade UNG. It's and $8 ETF! It trades nice and easy. Once you take out the leverage, it's not so scary. LOL.
It's not the leverage I fear, you know FX is very highly leveraged, but when I am wrong I can get right on outta there. Maybe I need education on limit up/down, but this seems kinda suicidal to me.
It's all leverage. If I told you I had an $8 stock that was up .20 today that wouldn't scare you. Well that is a HUGE spike in natty gas. LOL. I wouldn't daytrade it. But you can get very nice swing trades in this thing. BTW, perfect failed weekly A down in UNG at 7.74 this week.
I am not going to mess with this thread, but you just made my point. UNG moves 20 cents, I shrug. Is there a limit down in natty gas? My issue is if there is a black swan event that lasts longer than my account, I am fukked. Not so outside of commodities. I can get out, maybe at a heavy loss, but, I live. Did I miss something?
SPY pushed through prior days highs and failed, Crude showing weakness as well. VXX looking undervalued relative to market...bought some down at 41.
The daily limit in the futures is .75 I think. And to be honest, there is a far greater chance of blowing out your account on a big move in FX then nat gas. I'm not sure how you would blow your account out on an $8 stock unless you leveraged your entire account in it and even then you couldn't. If you put 100% of your account in UNG and it went limit, you would lose less then 10% of your account. LOL. This thing use to trade in the teens (the futures), now it's under $4. So it's really become pretty tame. When Nat Gas was in the 15 to 18 area they called it the widow maker.