Haha I know. That's one of the things I look for as far as position trades. Most people quit watching things like sugar or coffee when they just grind around in low volatility environments. Those are my favorites to watch because when they get moving and breakout they go. I feel like sugar was similar to your trade in U.S. steel. No one wants to talk about things that aren't on t.v., ES, CL, AAPL etc. even though that is where the opportunity is most of the time. I'm keeping my eye on Coffee as well to see if there is any pick up in volatility on a breakout if it ever does breakout.
No there is more than enough liquidity. There are some softs you could run into problems with liquidity depending on what kind of size you are looking to trade. Sugar, coffee, and cocoa are your most liquid. I'd probably stay away from lumber and OJ. Cotton can be thin but I trade it.
Frankly, for what I do all the ag markets test out best. Unlike ES and some of the more popular products the ags are pretty straightforward to me. Especially the softs. They tend to trade from the low of the day to the high or the high to the low more than any other instrument meaning I only have to figure out if we are in an uptrend or downtrend and trade accordingly. Kind of stupid and simple but works.
Oh dear God. I pray for the shorts. We are going to confirm tomorrow on the 30 day for the spoos. If you know anyone shots in the market, please, send them your best wishes. They are going to need your support. They re-set for me 4 months ago. So this signal is fresh. Nasdaq and Russel made new highs on the year today as well. They already both confirmed.
Sugar hit a wall right at the QTR A up today. X just won't stop. Up another 5% today. Blew through the QTR A up. We may hit my EOY target very shortly here. This baby is very heavily shorted.
Thanks for the heads up. Looks like stocks will have a monster rally when the debt deal is announced. I also think that would be bad for precious metals as a perceived safe haven.
Debt deal or no debt deal, we are entering the end of year performance chasing cycle where managers are going to be chasing beta till year end to make up for under performance. Now I would NOT enter trades based on that, simply stating what the head winds are for the shorts. Something I WOULD trade is a 30 day confirm. Tech and small caps better place to be then spoos though.
impressive ! followed your call from first time you mentioned X. I saw some of screenshots of your past calls and couple seem to be virtually at low. You do not wait for market to show strength before entering up day or something similar ? ACD strength is enough ?
It depends. In the case of something like X where it had not had a 30 day confirm in ages, then no, I want in that immediately. If it's some hot tech stock that has been strong for a while and is simply generating another buy signal then that is different. However, in the case of X as I've mentioned before, I actually created a derivative for the 30 day number line that DOES capture strength and it went off. It just wasn't obvious staring at a price chart. And if it were obvious, I probably would not have been interested in the trade anyway. BTW, the AUD/USD continues to hold a firm bid. Very smooth.