LEONES
Short

Cheaper Gasoline?

NYMEX:RBJ2013   RBOB GASOLINE FUTURES
446 42 1
RBOB peaked in mid Feb and seems ready for a reversal. If the 20MA acts as resistance the price is poised to fall to 2.92-2.90 area quite quickly. 3.09 sell seems a good entry point. 2.00 Gain/risk ratio.
Interesting .. I was wonder what was gas going to do in the near term.
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LEONES PRO QuantitativeExhaustion
3 years ago
yes seems good to sell but if on monday moves higher it a bull signal for me
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Agree.. Will be watching closely. US Fed meeting this week
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LEONES PRO QuantitativeExhaustion
3 years ago
what are they going to discuss?
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When they will possibly close off the QE valve. People are worried because of the last 4 US jobs reports. Reports were very positive and beat estimates. Last two fed meeting have had sell offs. So people might sell off before meeting and come back to play later in the week.
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LEONES PRO QuantitativeExhaustion
3 years ago
when is this meeting?
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March 20th. Most important event next week.

http://www.fxstreet.com/fundamental/economic-calendar/
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If price does not rise too much Monday.... Looking at Put options, not a whole lot of open interest on UGA 57's for April. That's deep! So price target would have to be met within next 7 to 10 trading days in order to make some bags.
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LEONES PRO QuantitativeExhaustion
3 years ago
Buy put options of RBOB you mean?
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ETF UGA (below) same relative to RBOB
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LEONES PRO QuantitativeExhaustion
3 years ago
ok don't do ETFs but I will consider put options on RBOB next week
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Comment removed
QuantitativeExhaustion PRO QuantitativeExhaustion
3 years ago
or Long calls .. like the Yen last month
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LEONES PRO QuantitativeExhaustion
3 years ago
well that one didn't go well if you have done it, it was just a day trade
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I did do it bought on the throwback for .10 and sold for .80/.85 (before your target)
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LEONES PRO QuantitativeExhaustion
3 years ago
yes i think so but with option you need a bit longer term study..i'm on the case. Need to find a good entry point and low volatility cases
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I see. I think option ETF's might be your best bet. Need to learn how to use your methods and make max profit. That Yen trade netted me a big with FXE calls a few weeks back. Although, that one had higher IV
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If you can get 60 UGA or 3.00 in RBOB by the 25th that wouldn't be too bad. 2.5 bags
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UGA is the ETF for Gasoline
snapshot
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QuantitativeExhaustion PRO QuantitativeExhaustion
3 years ago
UGA hit its target.. Heads up
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right on 3.09
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LEONES PRO
3 years ago
Sell triggered, going well!
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ozatrading LEONES
3 years ago
good JOB!
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Excellent Call.. Missed my entry by a hiar. This was a big move.
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LEONES PRO QuantitativeExhaustion
3 years ago
today retraced, tomorrow down again
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you think so.... that's a lot of IV
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LEONES PRO QuantitativeExhaustion
3 years ago
IV?
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Implied Volatility
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LEONES PRO QuantitativeExhaustion
3 years ago
yes I think so at least to the Fib 0.618 if you take the low of Dec2012
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So are we backtesting triangle..?
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LEONES PRO QuantitativeExhaustion
3 years ago
yes, opportunity to enter again I think
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sellers wouldn't come down in price. missed it again. Will see how this goes tomorrow
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LEONES PRO QuantitativeExhaustion
3 years ago
heating oil seems also re-testing
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LEONES PRO LEONES
3 years ago
snapshot
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Gas held up well over night. Doji candle stalemate inside triangle again
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LEONES PRO QuantitativeExhaustion
3 years ago
should drop now
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Should have paid the higher premium yesterday. Put Sellers would not budge. Kicking myself now.
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Gas is also a good one to measure how both the economy and the markets are doing. Thanks for the updates
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ozatrading
3 years ago
u still holding it? JR? leones?
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LEONES PRO ozatrading
3 years ago
yes, today seems a good sign, the long term triangle is acting as resistance
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LEONES PRO LEONES
3 years ago
sorry i was talking about copper...but yes seems RBOB is going to fall again
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ozatrading LEONES
3 years ago
yeah..i am copper short..thinking to get gasoline...but the refinery spiky news are not favoring my decision. r u in it?
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LEONES PRO ozatrading
3 years ago
yes i'm in copper, bit late to enter in the gasoline now
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