Monday, December 19, 2011

Crude oil and natgas made my day today

Today, the most volatile commodities among the ones I trade on a regular basis were crude oil and natural gas. After registering a new year-to-date low around 3.050, natgas bounced back up en route for 3.120. Like I said last Friday, I believe natgas has bottomed for the rest of the winter. Oh, of course, we may experience a retest of today's low but I think that, if it happens, it will prove to be a bear trap more than anything else. I don't see it drop (and hold) below 3.000. Crude oil was its good ole self. Very volatile, very "fluid". A real treat for daytraders/scalpers. Euro and t-notes didn't have any detectable trend so I basically ended up breaking even on my trades on both. Net result for today's trades +$834 trading 2 contracts (commissions included). Details below.

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