Love the quote by him at the end.

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Updated Chart... Latest move has been a lot more parallel. Nice flat curve now.

Both Crude and Gold are up today. I wonder if shorting gold is the best way to hedge against an increase in the US dollar. Not sure how to trade this but I am just thinking about it this morning.

Interesting snippet from today's FiveThirtyEight.com Significant Digits daily email with linked Bloomberg story

75 years
For the first time in 75 years, the United States has become a net oil exporter — in other words, our exports of crude and refined oil exceeded our imports. That fact is the result of an “unprecedented boom” in production, from Texas and New Mexico to North Dakota to Pennsylvania. The U.S. is the world’s largest petroleum producer, having surpassed Russia and Saudi Arabia. [ Bloomberg]

also completely off topic - but I also found this snippet interesting to

155 wins, 6 losses, 839 draws
AlphaZero, Google DeepMind’s game-playing artificial intelligence program, crushed one of the strongest chess engines, called Stockfish, in a 1,000-game match, according to a new paper by members of the company in Science. The results appear to cement AlphaZero’s status as the strongest chess-playing entity in the known universe. [ Chess.com]

I believe the CFTC Commitment of Traders for WTI Crude Oil shows Non-Commercial Net Long positions at the lowest level since November 2016 and under half what they were at the beginning of the year.

SMCJB 

I believe the CFTC Commitment of Traders for WTI Crude Oil shows Non-Commercial Net Long positions at the lowest level since November 2016 and under half what they were at the beginning of the year.

I thought that with the recovery of OI since mid November the turn around was close, but still falling. It broke the $50 level yesterday.


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Wondering the most practical way on getting filled on the 12 month Z3/z4 calendar with such wide bid/ask... currently I see a -0.43, -0.08...is it best to start at the bid or ask depending on buying/selling and work tick by tick ..so let’s say selling then start at -.08 and keep working way down???hmm


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z3/z4 is where liquidity drops of the map. You can show something but there is a person or Algo out there in 3/4, 4/5 and 5/6 that will just tick you until market walks into value. You really need to do it on a day when somebody has interest in z3/z4 or as a spread, or when somebody is trading z25 outright, which often when it trades triggers all the spreads

Wonder where Z19/Z20 will bottom out...noticed Z20 gaining today by 0.40 cents ...even though front month didn’t give up much....anyway Happy New Year all


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Spreads are expanding