I don't know if you can see it, but basically every futures contract I'm watching is selling off not to mention Crude oil is -8.73 or -10% and lumber -3.7 or -2%. You know what indexes are doing of course.
In current market environment, everybody wants cash. People get margin calls and need to liquidate their positions. I even see margin on ES or lumber increased quite a bit, so I had to deposit some more.
I'm looking to sell Nat gas and have orders in. This will be another long term trade, but unlike Lumber, NG is very volatile and I should be able to be in and out of options all the time.
I looked at the performance of the money club I was in. At the beginning of Aug it had about 4 million and guess how much it has now. 2.4 million. I'm losing money on that, but gladly I took 93% of my money before I got hit.
Preserving your cash is not a bad idea. Today's close could be very important. I'm expecting we rally up and have a strong close to force some short covering. But what I do know. I'm still trying to learn how to trade.
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