Quad Witching Friday – Big Futures Gains Likely to Evaporate

The Futures are up again.  

It's very exciting, especially if you took our trade ideas from yesterday's morning Report, which were:

  • Dollar (/DX) long at 93 – out at 93.50 for $500 per contract gains (playable again this morning)
  • Oil (/CL) long at $56.50 – out at $57.50 for $1,000 per contract gains
  • Gasoline (/RB) long at $1.65 – out at $1.675 for $1,000 per contract gains.  
  • Natural Gas (/NG) long at $2.66 – out at $2.71 for $500 per contract gains.  

So Merry Christmas and Happy Hunukkah to you all – now we can go shopping!  I told you it was fun to play the Futures and that's why we don't mind cashing out during uncertain times – it certainly doesn't prevent us from making money.  Even if we drop $1M to the sidelines, making $3,000 a day while we wait for the markets to cool off isn't a bad way to pass the time.  

Today we'll be looking for another chance to short the indexes, if they get back to yesterday's highs but, so far, no takers.  Dow is closest (/YM) but only 24,635, very shy of 24,700 so our only active play at the moment is the Dollar (/DX) long at 93 again though we do still have active long trades on /NGV8 (October Nat Gas contracts) now $2.74 and /KCH8 (March Coffee) now $120.50 – but those aren't day trades.  

One commodity not doing well this winter is chicken wings, with prices down 30% since Football season started and Conservative commenters are blaming NFL protests for spoiling people's appetites but I'd say Republican policies which are destroying the buying power of the Middle Class are having a negative effect on $1/each wings.  The same goes for Buffalo Wild Wings (BWLD), who blamed players taking a knee for hurting their business – where 9 wings are $13.49 and celery is EXTRA.  

I'd short BWLD but Arby's just bought them and we can't short Arby's because they are private.  That's another reason we went to CASH!!! in our portfolios, we're going to have to think carefully about…
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