Market Curiosity: Exploring Markets And Systems

January 31, 2011

Bought March natural gas due to very long lower candle wick +0%

Filed under: +0 to +5%, Futures Trades — Tags: , — Jeff Fitzmyers @ 6:29 am

Bought at 4.37.
Stop loss around 4.24.

+ Hammer candle poking into 170 EMA support and trend line support.
+ CCI’s configuration is very bullish and suggests price going to at least 4.76.

The big gap at the lower left in prices is just where the contract rolled over.

Sell UNG natural gas puts

Feb 2: Exited at 4.38 +0%.
– I’m surprised price has not gone higher.
– The falling 34 EMA is acting as resistance.
– Weekly CCI starting to drop below monthly CCI.
– Daily CCI seems to be sluggishly going up. Not that big a deal since price is essentially in a large consolidation. But a lower risk position is likely to be short puts.
– I wanted to use the margin elsewhere.

Feb 3: It appears price is rolling over, or at least not going up.
+ Time to be flat, free up margin.
+ Don’t be sitting with a drawdown.
+ Weekly CCI is headed down. Price could easily drop to 4.24 or even retest recent lows.

Feb 5:

It’s one of the clearest trends on Earth today… In the first 11 months of 2010, China imported 30% more natural gas than the same period in 2009. India’s natural gas demand is also soaring.

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