Thursday, October 1, 2009

Update

NG just couldn't break 5 level. I thought it'd at least go over 5 to run stops. It tried a few days, and today it finally gave up. From what I've seen if things go down like this before the NG inventory report, either slight pop-up and die or die with a lot of blood.

I have 3 calls written, so it's helping. I tried to sell 4.75 call which would have helped a lot, but it just dropped before a fill.

Lumber is hanging around the new low. Even if price is at 170ish, and seems higher than 140 back in Spring, it's because of roll-overs.

A lot of news have been released. The theme now is up before the news and sell after the news. All the data is not better than expected, so just sell. There are no more buyers left and those who bought have been ready to exit. Sellers are slightly coming back but not yet.

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