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A new scam emerges: A news scam emerges:
Bloomberg: The Hot New Statistic Oil Traders Are Watching Is 71 Years Old
Those trading light, sweet, and sometimes crude oil last Friday may recall this little order flow anomaly right at Noon Chicago time – a very nice little jagged ‘M’ formation:
I’m in total agreement that grease monkeys need not get excited unless they rip apart 5430s. However, this week marks the first in many weeks that WTI has rotated right back to where it all started – the Weekly Opening Range (WOR) that was set Sunday night:
Experts are saying oil will head to $200 or $20 – pick a side. Meanwhile, it’s been a nice bullish week and we’ll change our minds if they start breaking down weekly opening ranges again.
There’s no point in having a bias, only order flow 😉
Clearly there’s a shock wave going on with energy markets and crude oil in particular. The past couple days offer some great examples of how sometimes, there is no such thing as too high or too low. But how does this week’s Syrian conflict oil spike compare to prior conflicts? (more…)
I just can’t help but notice Pump ‘n Dump (PND) email spam schemes when they arrive in the inbox. It’s hard to believe this stuff is legal, but it can still offer some entertainment value. A couple years ago, one of the more entertaining PND schemes gave us a nice tower formation for a company brewed by a Bob Marley family member, no less. (more…)
In the laboratory and test kitchens here at TFP, we have been having some fun with volatility. One of our latest studies focuses on statistically prominent inflections in order flow. A favorite setup for light, sweet, and sometimes crude oil is the Sunday Night Snapout – a nice surge right as the globex session opens on Sunday evenings after squeezing shorts the preceding week. (more…)
