Category: Daily Call

Rerun Continues

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As discussed in yesterday’s Daily– the trade seems to be following a path similar to last month in early March as weather brought some short term support to prices. The same seems to be occurring this month. Wait for for prices to definitively break above resistance– by closing above the near term resistance between $1.85-$1.96 on a daily basis– before entering any serious length. In the meantime, I found the early March rally a good opportunity to sell some premium in the options market.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.872, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Similar to Last Month – Firm to Start

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Seen this movie before — lets see if the plot thickens on this month as prices start the month off with strength only to fall back after the first week.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

Strong Daily Close to May

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Been a few days but nothing has changed. Prices rallied late last week but ran into the trading wall (either side of $2.00) regardless of the expiration gains given to May. Another month and would not expect a big shift in the recent ranges.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Options Today Contract Tomorrow

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I have jumped ahead to the May contract for analytical purposes as the expiring April (Wednesday) provides no analytical support. Stick with the themes from the Long term Week section and unless something dramatic happens this will likely be the last daily until next week (Good Friday celebration on Friday). Should something, happens will post on Thursday.

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Consequences For the Declining Range Trade

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I have been poking fun and frustration of the recent range trading that the market has been providing us for the last month or so, but the market is going to respond to such lethargy. Go into some of the recent history of what happens in the Long term Weekly section. We have expiration this week and would expect similar type of action as the March expiration process (as we haven’t moved this month with April as prompt).

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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More Of the Same

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It is all in the heading with other comments necessary.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Another Storage Release

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Another week, another storage release and the prices are very similar to the last releases. OO my what do you think is going to happen– I will bet on a continuation of the recent range.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Short Term Base May Be Forming

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Not submitting a Daily yesterday may become an occasional event as I can only write about or discuss the same type of price action so many days in a row. Let me repeat the same diatribe as the last week or so as the market continues to grind out trade in the recent range. Would not expect anything different this time.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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You Have to Love Range Trading or Premium Selling

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If you are selling premium (options) or accurately range trading this market you are having a good Q1. This is looking like a market that is in a hurry to go nowhere. Will bring more thoughts when the Daily limits the distribution later in the week.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Key Support Never Tested

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Prices never tested the key levels of support before finding buyers and gaining a dime. Perhaps we have developed another range trade and will be testing the resistance either tomorrow or next week. The market has not left the range trade of the last 5 weeks between the $1.50’s and $2.00 but prehaps the market is consolidating in a narrower range.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,