John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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Fiscally Conservative

isopatch

The Ox

To: Fiscally Conservative who wrote (17505)	12/29/2015 7:00:15 PM
From: John Pitera	3 Recommendations of 33421

Yes with UGAZ my approach was to take 90% of the long off today. Anytime there is a double so quick and they are talking about it on cnbc and Bloomberg etc it has run to far to fast. I happened to be walking by CNBC and they were showing the prices for New Year's Eve dinner at the Olive Garden, Ruby Tuesday's and several other restaurant's of that ilk. With a view of TImes Square the dinners are from $400 to $800 one of the commentator's was joking about using profits from a long UGAZ trade to pay for the very pricey meals... ( the bathroom availability on New Year's Eve at Times Sq is.... very nearly priceless. with Crude today Aug Oct and Nov of 2016 with the biggest volume were all up considerably. as were Jan Feb of 2017..... March 2017 was actually down on good volume. December has by far the largest open interest with the long dated contracts going out to 2020 and beyond. Jun is also active for those who are calendar spreading. I want to see what crude does in early January.... and also what the USD does. I've been very impressed with FXCM's ability to rally........ I was one of those wondering if they were going out of business when they took the massive volatility hit when the Swiss National Bank dropped the peg to the EUR on Jan 15th...... just insane volatility nearly a 30% move lower against the EUR in 15 minutes... a high double digit move against the USD. They needed $300 million in solvency injections and have been working through their issues. John

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