Tuesday, January 30, 2018 10:33:11 AM
From an FA perspective in DEC the narrative was underground over supply and the drop NG to 2.56 trapping everyone and their mothers. (Loss a bit on my scalping accounts..) but I was able to get out with no loss in major accounts...
So know the narrative is depleted underground supplies yet production is high and consumption will trend lower..
They paint the FA picture anyway they want, they own all the WX sites and trade rags...
Need to watch the COT and that # is reactive so your always late to the game!
Really a crap shoot...Just remember when we hit 2.56/2.60 Bulls were exhausted and Bears were saying 2.20...Then Boom NG 3.60..
Same thing will happen soon. You know why? How you going to make money if know one is buying your Futures or ETF at extremely OB conditions...
Typically the March contract sells off into expiration seasonal. I think this year could be different. CS has not been trading these ETF with seasonal bias since last May...They are doing the opposite and when they do decide to run it, It's not a typical seasonal time frame WX is also driver.
If cold WX persist in Feb...March contract could hit 3.50/3.60 before major reversal....I've heard some folks calling for 4.0 lol
GLTU
BTW Im ki=cking Nattys butt!!
DISCLAIMER: MY POSTS ARE STRICTLY MY OPINION, AND ANY OPINION
PROVIDED DOES NOT CONSTITUTE A BUY,SELL, OR HOLD RECOMMENDATION OR DECISION.
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