Shorts puffing their chests!
$ProShares Ultra Bloomberg Natural Gas (BOIL.US)$ I love these guys that make these huge positions visible in the aftermarket to intimidate aftermarket traders in an attempt to bullythe the market🤣……They are almost invariably short sellers trying to keep a rising market from drifting higher after the close. After getting my face ripped off in this blithering thing twice on the way down, I decided, theres no way Im allowing them to keep my money. So after watching it second by second like my life depended on it day after day, I was able to put on a healthy position around 38.95, along with some then cheap Dec 16th 2022 deep in the money calls with a stike price of 30. Wow,…has thatpaid! It adds up just as fast on the way up as it does on the way down as well. 👻…… If I can just keep my nerve until December, I should be far better off than I was after being litterally inhaled by this thing twice about a month ago. I hope some of you guys who took it on the chin along with me didnt pack it in, and perhaps have watched the spot market and have been able to take advantage of the opportunity to get back into this whirlwind. As alot of us got absolutely smoked when the Freeport LNG Terminal in Texas had a huge fire shutting down 17% of all LNG exports worldwid until what’s probably going to be some time in November or December.But, LNG can only go down so far before we start sending a shitload of LNG over to Europe again. As they are paying 10 times what we are paying right now and are buying anything that comes up for sale as long as its not from Russia. And they are really suffering in the wait for theFreeport plant to come back on line. I feel badly for them. But I know that the current administration is leaning hard on Freeport to accelerate repairs on that terminal to get it operational again. So between that and everything else that starts now moving LNG on a seasonal basis moving toward winter, I think right now its just the giant hedge interests and true believers that have been getting in so far. But my belief is that once this thing gets moving, perhaps a little while from now, this may very well accelerate to the upside at a really respectable rate,…….. and hit what…105,..120?….135?.…or higher? That would make for a noce Christmas. But one thing Ive absolutely bet against ……This thing isn’t going lower between now and the time we start shipping at full capacity out of Freeport in approximately December when it becomes operational again, because Europeis absolutely Depending on it🤓………Anyhow. thats what as my screenshot below shows……..I get a good laughout of these guys in the aftermarket who show these huge offers ( usually) visibly in Level 2 in order to try to intimidate smaller bidders🖕👻e
Interesting thing is half the time these chickens get taken out by a market that moves suddenly before they have a chance pull their offer and doa cancel replace to adjust their price higher to keep this “huge” sell side position visible in the Level 2 market balance profile……. as seen below. This joker changed his price up and down 10 times and never traded🤥………Duh!🙃
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Tyliving 76 : Nice reveal !!!
PhotoSynth OP Tyliving 76 : It’s funny how in a market that is clearly rising on Hurricane like fundamentals, and someone puts up a live offer of significant size to attempt to reign
in the buyers and get them to back off . Any red blooded trader in light of what at this moment was long with so much tailwind momentum occurring, would never put up an offer of size it’s out of reach of the current bid unless they were whackamo, or they needed to pay their divorce attorney. This guy got taken out in one fell swoop and the market never even flinched. He could have made a hell of a lot more money had he either stayed in until a more predictable technical break. Or until the market had gone Bear. Trying to intimidate a bunch of sharks in a smaller pool is a bad idea. All they see is breakfast. Many of the individuals trading this market are seasoned individuals who see this kind of thing a mile away, or institutional hedge funds who interestingly enough,…..view this kind of guff the same way. To them it’s just an opportunity to buy a nice big chunk at a price they know someone’s trying to intimidate the market with. Take it from someone who’s been on the wrong side of this equation a number of times while trading Municipal Bond futures in the pit down at the Chicago Board of Trade back in the 1990’s.
You learn to pull your own head out of your ass because everyone else in the pit is just fine with you leaving it where it is. To them ,as long as I kept trying to pull that crap, I was just another great trading opportunity for them to be able to lean on……which they were more than happy to oblige. Lessons come hard in trading. Emotion in trading is the kiss of death. It’s right on par with wishful thinking. Both will get you killed.