Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Wednesdays before expiration (especially on FOMC days) are special days.
Volume is split between 2 contracts. We have stops getting killed on both sides of indecision, and then a lot of chop, chop, slam…. chop, chop, slam…. It reminds me of the old Duck, Duck, Goose game. Only this time, retail stops are left holding the bag and can’t find a chair or get a break.
The witching hour appears to be the hour going into oil pit close.
The news scams and crude market forecasts are becoming even more crude.
You can read last week’s Bloomberg article quoting the helpful folks at GS here:
Bloomberg: Goldman Says $40 Oil Call May Be Too Low as Demand Surprises
Then, you can enjoy this chart showing what appears to be a nice Distribution Zone, followed by a 10+ sigma, 7-handle move to down. Please enjoy the custom selected colors:
Long live 50s! Errrr…. 40s!
If you really wanna have a blast, join the fun at #RigCountGuesses.
As a quick followup to yesterday’s post, one individual aced the grease monkey test today and shorted for profits. Everyone else complained about the black color background of the oil charts. So, I have done my best to repaint the walls in pink, chartreuse, aubergine, and re’tailer blue.
Congrats Ace! You nailed it. Although they didn’t make it easy, grease sold off today once they were done with precision calibration for the Nat Gas news event (they are sooo related).
Catch you next Prince Spaghetti Day.
Old MacDonald had an oil farm, E-I-A, E-I-A, Oh!
With a stop run here and a stop run there,
here a stop, there a stop, everywhere a retail stop, E-I-A, E-I-A, Oh!
Wednesdays are Prince Spaghetti Day. They are also when the US Energy Information Administration releases its weekly petroleum status and crude oil inventories (except during holiday weeks). Check out the last 3 EIA news scam days.
Not quite sure what grease has to do with Greece, but all instruments seem to be on edge today (and it’s Opex). May the good guys win.
Two very interesting zones have emerged as reference points on grease:
Don’t forget the Rig Count scam at 1300 ET.
Originally posted @TradeFlightPlan
www.tradeflight.com
