As UNG continues its never-ending, Wile E. Coyote style plunge off the cliff, you natural-gas bulls can take solace in the fact that part of the internet is now fueled by natty. Google was Bloom Energy’s first customer and is powering one of it’s data centers with Bloom’s magic cubes.
SPY’s RSI(2) on the daily chart closed at 15.37 on Tuesday. The last time it dropped that low was on February 4th, and a swing low formed the next day. The bears may not be done mauling the market yet, but the odds have begun to shift back toward the bulls.
Futures Prices
Market Last Change %
Crude Oil 78.33 -0.53 -0.67
Natural Gas 4.791 -0.018 -0.37
Corn 378.75 -4.00 -1.06
Soybeans 959.5 -9.5 -0.99
30yr Bond 117.84375 -0.03125 -0.03
10yr Note 118.046875 +0.859375 +0.73
NY Gold 1092.3 -10.9 -0.99
NY Silver 15.775 -0.138 -0.87
Emini S&P 1095.25 -2.00 -0.18
Emini Nasdaq 1801.00 0.00 0.00
Emini Dow 10290 -9 -0.09
natty gas, i don’t find myself so much in the bull camp as much as i find myself in the camp that keeps getting tempted by UNG, selling calls, averaging down, and “eventually” getting out at a smidge over break even…the time frame for eventually seems to be getting longer and longer and i need a new hobby…
(as the fly says, “to the FAZmobile” ?)
Thanks After. Yep, “eventually” has been longer the past year. Snails pace compared to a few years ago.
SPY bumped up against 15min 36ma resistance with that intraday gap. A break one way or the other will make a good entry.
Stringm,
Are you glad you sold yesterday? I’m glad I did.
TNX is only up .04c… After that big move down yesterday, I would have thought it would be up more.
Phil, any relation between the days that bonds are sold and TNX (and other) movement? Yesterday, 44bln sold by Treasury. It’s like almost every day.
Stringm,
That’s the reentry I’m talkin’ about! Wahoo.
Once this intraday gap if filled, there could be a reversal again.
George
I am glad I did, this is playing out similar to what I thought. That doesn’t happen for me that often.
String
Crude oil inventories up 3 million barrels. Bernake says rates need to be kept low. (Source: CNBC-RT)
No pancakes today. Just HOT natzi soup. SPY filled that gap and reversed on que. Trade by the numbers, what I’m talking about.
Senate passes jobs bill with tax breaks to employers that hire the unemployed. (Source: CNBC-RT)
Month-end effect is almost here. That could take the market to new short-term highs(?)
HA! TNX is down -.10 now. Go figure.
BBT had a Tres Cruzar right out of the bell this AM. Nice.
Stringm,
You sent your snow to us. It’s only liquid sunshine right now, but if the temperature drops more it could be popcorn.
George
Try to keep it up there, it does not belong in Texas.
String
bias slightly bullish. Support 1085-1095 with stop at 1080. First target 1112-15.
US auctions $42 billion in 5-year notes. (Source: CNBC-RT)
i’m just sayin’…
GEORGE..i just bought some 5 yr notes….lol……i sold a boatload of 30s
They’ve done this a few times already but wait till the effects show.
http://online.wsj.com/article/SB10001424052748704240004575084853361540506.html
Phli,
A boatload is more than a truckload.
George
Not if it is a Dingy.
String
HA HA… or a canoe!
George
No more Hummers, now what will Phil buy when his boat comes in?
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCwY54lloo8c&pos=4
String
ok guys ….maybe it was more like a bucketful…..lol
Yea
And you goad me into selling my bonds, and turn around and buy some. I didn’t sell my 2013s though!
String
string…..i sold my 30 yr bonds ..those were always for a quick trade…(hot potato) ….5 yrs are possibly a trade but if wrong the pain only lasts 5 years …. not 30
Phil
Precther is at it again. Advising people to be in cash or short tbills. Crash is coming. Says it would be better to have the cash in and and not in a bank. He is a Chick Little deluxe.
String
string….he had it right last year….but was wrong for 20 years…hard to have confidence in him….he poisioned me towards stocks after the 1987 crash and i missed out on the big bull…but i did ok in bonds…..
BEWARE when prechter says “5 waves down with a truncated 5th”……he was so biased he couldnt see that it was just 3 waves down …a correction….and the market roared up after each of his crash calls from 1987 till 2000…..FAUX CRASH REDUX???
China doesn’t want our big, fat Hummers, apparently. GM had originally planned to sell the company and brand to China’s Sichuan Tengzhong Heavy Industrial Machinery Co.
Executives familiar with the matter say GM will now wind down the brand, according to Bloomberg.