Nov 1. Option Selling Opportunities So Good They're Scary
Nov 14. Your account was caught in an extraordinary bout of volatility in the energy markets. In particular, natural gas prices experienced a parabolic move over the past 3 trading sessions... The event resulted in a catastrophic loss to the portfolio. Your account now likely not only has a zero balance - the balance is likely slightly debit.
And to think that I got a sell signal the 8 november as I was testing a 4 hour RSI divergence alert system lately (gave up on that already :D), good thing I avoided this. Just looked bad.
Now I dare anyone to tell me again my bias causes me to miss out, and I would make alot more money if I was not so biased against every thing, go ahead, I dare you. Tell that to the people that received margin calls and letters telling them they lost all of their money. I bet their TA told them they were very strong resistances.
“A combination of late summer heat, nuclear outages, hurricane disruptions, pipeline delays and now a burst of early cold weather has left inventories at critically low levels just as the winter begins,” Goldman Sachs wrote.
Volumes of benchmark Henry Hub natural gas futures on the Nymex were a record 1.6 contracts on Wednesday, more than four times the average.
The advent of shale production in the past decade subdued the market, however. Some traders made money consistently betting against the market as prices declined.
Some traders have maintained short, or bearish, positions in gas and long, or bullish, positions in crude oil and “the unwinding of positions in one of these two commodities could potentially have triggered the opposite effect on the other commodity,” Citigroup said.
The market action was so ferocious that an exchange traded note enabling retail investors to place leveraged bets on lower natural gas prices was more heavily traded than the most popular exchange-traded fund linked to US stocks.
Copying quotes from the financial times. I guess idiotic retail traders assaulted this commodity and did their usual dumb troll TA thing and they were so many of them that this happened... I guess... Lmao. I just love looking at all these "very very strong resistances" and oscillators giving sell signals. Of course there are also those that followed the move and made money... alot also got destroyed when it dropped 20% right after ^.^ Lmao watching screenshots of these options traders that lost everything thought. They cannot criticize me for being careful and missing out now that they cannot even afford the internet :smart:. Even those that made money are probably just gambling at that point and got lucky this time but will end up in the same boat as the losers.
Your TA looks really good when a pipeline explodes and reserves are at their lowest in 15 years. Oh ooof course, people are not going to want gas they are just going to freeze to death out of respect for "very strong resistances" and some troll indicators that get sold to newbs and never worked.
Bi-bi-bi-bi...BITCONNECT!!! HAHAHAHAHA. I loooooooooooove BIIIIIIIIIIITCONNECT. BITCONNECT!
These greedy people that are not careful, they keep getting rekt. Very important lesson here.
Nota
Saw the video where James Cordier (OptionSellers.com "hedge" fund manager that lost > everything) cries. Retail traders in euro are really protected against negative account balance right? It's not just a stop loss that can suffer slippage? It's truly impossible to go in the negative? These useless regulators always promise you something and when you get hit you find out it was not exactly what they said...
This morning ZN bagHODLers, that had AMPLE time to cut their losses as it was clear the Oil market was going down the drain, had a nice surprise:
Yes, this time it is different, Wall Street is behind that drop because they want to buy cheap, just hold you will be rewarded, etc, the usual dumb bagHODLer talk.
Wall street has their own problems.
It seems like the only ones doing well outside of bears are the crypto hedge funds that are charging high fees regardless of being down enormously. I have no idea how this is even legal. Some of them are apparently participating in pump and dumps, no shame. This is just bullying. They are cuber bullying greedy novice investors too lazy to check out they are not getting scammed. Crypto XD Poor fools are getting milked to the last drop, insane. It's like all the scammers from the planet took notice of the dead elephant and all launched down on this ponzi and are just tearing it apart till there are only bones left. Like a pack of sharks. It's quite scary actually. Well I don't really mind, I am an Orca I love shark meat.
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