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Remember all the zaniness in early March about how commodities were going to the moon, and metals such as nickel were so red-hot that the exchange literally had to shut down so that a short-seller in China wouldn’t blow up? Well, sure enough, the insanity top-ticked the entire market, and it has completely retraced.
A week or two ago, I overlaid the sine wave from SlopeCharts onto the chart of natural gas. Interesting how it seems to be working so far! This suggests much lower prices in the months ahead.
I am pleased to announce a new feature in SlopeCharts for all paying members (and, nudge nudge, prices are going up next Friday, so those of you on the fence might want to make the leap). If you think of any other genuinely helpful classes of “events”, please do email me, since I’d love to have as helpful a library of dates as possible.
Now, there is a library of date-based “events” built into SlopeCharts which subscribers can overlay on top of a chart. These events include holidays such as Memorial Day and Christmas as well as events from the world of finance such as FOMC announcement days. You can access this feature from the Tools menu:
(more…)Preface to all three parts: after the bullgasm on Friday, I trimmed away bearish positions that I thought might be better to enter later at better prices. I have a total of 21 positions, 7 of which are shown here:
It’s amusing how pee-wee small the rates are compared to the scorching-hot inflation (which is, oh, two to three times bigger than the governments care to admit).
