GLD/Batman - Huh? It's a $4 spread and it's at $2.50 with GLD at $107.18 a month ahead of time - why on Earth would we be doing anything other than waiting patiently?
Wow, that was an easy call!
/SI blasted through $14.50 this time, very nice gain there, too.
DMulligan - September 14th, 2015 at 2:14 pm
Futures/Phil;
Are you staying away from the futures until Fed speak on Wednesday Phil?
phil September 14th, 2015 at 3:46 pm | | Permalink
Futures/DM – Not on purpose but it certainly hasn't had any easy set-ups lately (other than /YG at $1,000 or /SI when it pops back over $14.50).
Dollar/Tommy - Yep, that's how they play the game.
October/Craigs - I think we sell off no matter what. Dollar may go down a bit but, as I noted earlier in the week - it's already baked in.
Oil/Craigs - You have to let them have their head-fake, especially with the Dollar going down. Anyway, I believe I attempted to explain that oil was pretty much unplayable here (in the dead middle of the range) last week BECAUSE it can be so easily manipulated between $42.50 and $47.50, didn't I? Yes, I did, there was a visual aid and everything!
In fact, it was essentially the same exact spot oil is in now. Then it did this:
The middle of the range is a TERRIBLE place to play oil - you can't have any conviction and you MUST use very tight stops if you insist on playing here. Logic will not help you. That being said, I'm happy to test $46.50 or $47 short and, by the time they get to $47.50 - I'll have a bit more conviction on the short side - especially if the Dollar stops falling.
