Market Curiosity: Exploring Markets And Systems

January 9, 2011

Buy March natural gas +0%

Filed under: -0 to -4%, Futures Trades, Mistakes — Tags: , — Jeff Fitzmyers @ 6:34 am

Buy March QG on a stop around 4.425.
Stop loss around 4.3.
Sell target around 4.66.

– Seasonals are not supportive. So this will be a short term trade.
+ Testing a rising 34 EMA with a hammer. A rather strong signal.
+ A lot of green bars leading up to the correction.
+ A close above the blue 5 EMA is positive.
+ Holy Grail pattern: weekly CCI dipped while Monthly CCI is rising.
+ Possibly, the same pattern is forming with the daily and weekly CCI’s.
+ Everybody and their guppy is saying how natty supplies are huge.
– The big red volume bar 2 days back.
+ COT commercials pretty bullish:

UPDATES:
Jan 10th: Order not triggered, even though the “hi” is listed above the stop price. Hmmm… Just leaving order as is. Price has dropped 4 days in a row. The last time there were 4 days down or more was in August in a strong downtrend. Getting time for at least a bounce? Piers Corbyn, astrophysicist of WeatherAction.com says: “Accuweather show (11th Jan) that a major “collision” of storms will give severe deluges in New England Tue 11th/Wed 12th.” Could this boost demand of natty??

Jan 11th: Now long from 4.425.
Jan 13th: Moved stop loss up to under todays lows: 4.38.
Jan 18th: Stop triggered and filled at 4.42.
Jan22: Was a mistake to move stop loss above 34 EMA.
+ Monthly CCI rising.
+ Weekly CCI above monthly CCI.
+ 34 EMA rising.
+ Everyone and their pet frog says the cosmos is drowning in too much natty.

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