So far nothing we didn't expect

No sign that we'll see anything beyond what we've expected thus far.

Update

There's nothing right now suggesting that we will see anything other than this lateral movement we've seen all day.

UNG

This is my response to an email about the break that just occurred in UNG

" It broke support at yesterday's lows, look at a 1-min chart, all that volume was stops being triggered, probably not institutional money. #C will take an hour or so to catch up with it, then we can see if it is a false breakout. My gut feeling is it is a false move because of the volume, the market maker saw the amount of stops right there, he just had to move it down a few cents and he hit a major pay day. Figure out what the spread is and multiply it by the volume when it broke and that's his paycheck for today. 3C will show if he's buying the shares up, but it'll take some time for it to catch up. Remember what I try to tell people, obvious patterns, obvious support and certainly showing your cards with limit orders are all bound to cause false moves like this (assuming it's a false move)."


There are already signs of accumulation, the MM may be buying up the shares on the cheap, but it's too early to say for sure.


This is how Wall Street works now. If this recovers, this will be an excellent chart to study and understand the manipulation that occurs.

Not too exciting

We got  a gap, a little weakness backing off the gap and really nothing too exciting except there's 1 indicator-4C that is looking bad on the 1 minute. This indy has proven very effective in the past, but it's alone right now at least in the severity of it's decline. We are close to the upper limit of the gap, our high was within cents of filling it all so it's not hard to imagine a decline sometime today or at least a stagnation. We'll see what the later readings reveal, but I think it is safe to start phasing into some of the recent equity shorts listed recently a little at a time.