I just have to point this out. I gave the QTR A down in Gold some time ago at 1551. Today the actual low in Gold was 1550.90. One single tick off the QTR level! That's called splitting hairs.
Caught that move, 93 pips so far with time stop coming up. Also noted that our levels are within one bar of each other. Congrats if you took the trade
The weakness there has been unmistakable...when we pushed through 1700 and near the monthly A-up in the beginning of month it looked like we may get some strength. Then we broke down and on the bounce we could not even make a substantial A-up intraday. I knew something was wrong. Hopefully somebody is catching some of these moves, we know Mav is on it! Alot of people will be watching this 1500 level, really curious how this thing acts into the new year. Every substantial dip has been bought on the longer timeframes!
pre market chart for 12-29-2011. Oil inventory at 10.30 am. Daily pivot range 100.41-99.86. 3 day rolling pivot range= 100.44-99.87
This trade is a little more liquid. XHB/JJC Homebuilders very strong today. The A up in XHB is also 9:00. That is your trigger.
How about homebuilders over oil. XHB/USO That's 300 basis pts. That is a huge move in case anyone is wondering. LOL. When you have market neutral spreads, anything between 50 to 100 bp is a pretty solid winner. Three hundred is off the chart.
Natty Gas getting killed again. Intra-day A down, weekly A down, monthly A down, QTR A down. Getting ready to test $3!!!!!!!