Gasoline cracks in the US has been the star recently and readers will know this is one trade SFOT likes to have on, either on its own or vs Jet cracks /other middle distillates. The situation has not changed, and a buy on dip strategy will be applied in this trade.
Jul09 Rbob Crack
Less of oil, but more of Gold and USD strength this morning vs EUR which catches the eye. SFOT owns some small units of Gold but now that it has broken the 10day moving average, and hearing from sources end user demand isn't there makes him tentative to buy more here. Buying no dip is NOT one strategy to be applied here at this moment. Perhaps a rally back above the 10day moving average would give him a little more comfort to add to the length.
This will be the last post this month as SFOT will be away in an island state near the equator for 2 weeks. Yes, sunshine, good food etc. However, he may check in occasionally the next 2 weeks and perhaps post an odd piece if he does get more inspiration from the sunny island. In the mean time, good luck and good trading
If you shoot me an email, I will send you some colour on gold and end-user demand. jungle dot np at gmail dot com.
ReplyDeleteAnon, i have updated an email address on the blog if you have some colour, will be greatly appreciated
ReplyDeleteenjoy the vacation SFOT!
ReplyDeleteIsland State near the Equator?
ReplyDeleteIs you going to Jamaica, mon?
perhaps singpaore?
ReplyDelete