LOL..c'mon king. I trade everyday! I know we had the a couple jobs numbers come out this week! My point was...that the weakness in crude was very pronounced. Hell Crude actually led us on the way down on Thursday.
this is what I have taken out the acd thread so far mostly due to Mav: breakout vs reversion to the mean price action acd levels long vol = long bonds spreading Shan I was very struck personally that bonds got bid huge before adp on wednesday, but seriously take what I say with a grain of salt, listen to Mav he is very wise.
Yeah, I waited for that test of the weekly A up on Wednesday, (when the news about Arnold hit) to get long for the first time. I'm happy to add on further pull-backs, but the encouraging bit for me was that while EVERYTHING made a -2; -3; or -4 week, NG made a +2! Relative strength much? You're right though, I cringe every time I hear someone on CNBC talk about it. That bit on the closing bell Thursday where they mentioned that it took the 50 day really bummed me out... As I mentioned, my multi-week number line added a +4 to NG this week, (dropped a -2 added a +2 this week) so looking for a failed weekly, or a test of the weekly A up and pull-back to the weekly OR. We'll see right?
So here's a question that I'm kinda flip flopping on in my head after this week's action: Was this a -4 week in most sectors, or a -3? This is totally a "what does everyone think" question, I'm not sure there's a "right" answer. Obviously the action SUCKED. But the trouble I'm having is that while the S&P knocked the cover off the ball Tuesday morning and got well above my weekly A up, it also rolled over and died without a close above the level. So while from a price and time standpoint I might typically say, "yeah, ok, it was a confirmed weekly A up on Tuesday before it came crashing down," I also can't help but think that the action never really confirmed the weekly. I dunno, just dealing with how to assign the value with my number line. Again, it's somewhat a matter of opinion I guess, but the highs of Tuesday were well above my level too.
Speaking of natural gas, here are some of the names in that space that have been trading well this year despite the sharp selloff in natty. CPNO, NGLS, NI, EPD, OKE, EP, WES, LNG, GTLS, PXD, CQP, HK, SD
Anybody interested in systems trading or would want to know a systems traders thought process check out this blog: http://acraryinfo.blogspot.com/ Lots of good info in there!