The $VIX gapped up this morning, but as you can see, market futures continue to be held up - just barely - in the green. That's blatant manipulation, and that kind of manipulation is one of the reasons holiday trading is usually unpredictable.
Friday was another unpredictable day, and despite another lousy unemployment report, several thinly traded markets including, Natural Gas, Biotech, and even rare earth metals were seen testing new recent highs. Silver was also up, which didn't make much sense to me, but when has the market ever made sense? Again, it's easy to manipulate thinly traded markets on light volume.
The best trade
The best trade has been the rebound in Lumber, which I alerted to on August 31st.
Lumber: Gaps above the 50 day, for another 10% upside. I only wish there was a leveraged lumber bull ETF!
Commodities in General have provided some of the best trading opportunities, as of late.
That was predictable, as we continue to see only tiny gains in US equities. CNBC can report it as the $SPX makes 54 new highs this year, but the truth is, these gains aren't even worth mentioning.
Natural Gas: Regardless of the "European energy crisis" story, being peddled by the lying financial news networks, natural gas remain in a 20 year bear market.
If you're trading Natural Gas, then you're going to want to watch the $UNG
$UNG - closed on a doji reversal candle. My personal favorite! Also looks like the end of a 5 wave move. Watch the $16 level. And if it (mini) crashes to the $14 level, I'll be happy to cover my shorts!
I've run out of time.
Gl, AA
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