Week before OPEX was great trading - read all about it - and low and behold; if this week wasn't just as good, thanks to the Federal reserve's big rate cut.
This was one of the best trading opportunities I've seen on a Fed announcement, since I started doing this - 15 years ago - but the ability to trade something like this accurately, only comes from much experience, and due diligence.
I even called out the trades, ahead of time:
1. Gold Miners
Looks like Gold the gold bugs are planning to buy the #FOMC news. $GDX Gold Miners pic.twitter.com/FwVItk7v1g
— Veteran Market Timer (@3Xtraders) September 17, 2024
Not only did I get the trade right, but I sold the breakout, for a killer swing trade:
#Gold bounces back, of course
— Veteran Market Timer (@3Xtraders) September 19, 2024
This has to be the dumbest market of all, and I made a killing swing trading the round trip in Gold miners yesterday. pic.twitter.com/MqqRu65IkW
I even warned traders - to sell the relief rally - ahead of time
The gold miner trade is a #CNBC #FastMoney trade, so try not to be left holding the bag...
— Veteran Market Timer (@3Xtraders) September 17, 2024
Yesterday, we watched as tech #Stocks were quietly bought , ahead of the Fed meeting #FOMC $VIX https://t.co/xgUqHQ1eXp
— Veteran Market Timer (@3Xtraders) September 17, 2024
Lessons to learn from all this:
- Market's can remain irrational for longer than you might think...
- Stay nimble
- Don't Fight the Fed
- (almost) Never attempt to sell into options expiration (Friday)
Of course most sectors remained pinned into - yet another rigged - Options Expiration, as we have seen so many times before, but one (big) exception to that rule, turned out to be in Natural Gas!
Friday's incredible 15% move in Natural Gas Goes Unreported
#NatGas is on fire! Silver & Gold not so much pic.twitter.com/haydSLD4vd
— Veteran Market Timer (@3Xtraders) September 20, 2024
I did give some hints to the latest moves in Nat Gas, but if you think I'm giving away my Natural Gas targets, you are about to be sorely disappointed... These are million dollar charts, and I'm not sharing. In fact half the reason I even bother blogging anymore, is to document my great success.
I did give out a lot of information, but unless you were paying close attention, you most likely missed it but there's much in depth analysis, I'm not giving away. If the hedge funds want my help they should make me a decent offer. I don't work for free, and their trolls get blocked.
Why would you say that, troll? Watch for my most recent expert analysis on the blog. #Muted #Blocked https://t.co/CLpDLV4gCT
— Veteran Market Timer (@3Xtraders) September 21, 2024
More on Oil, in a moment, but first:
To Document the winning NatGas Trade - as of late
First I documented the bullish trend on NatGas
Natural Gas #NatGas higher @3Xtraders 🎉🚀🎯🤑🤑🤑https://t.co/iAnpWXkUKU
— Veteran Market Timer (@3Xtraders) September 15, 2024
Then, I called a short term top in NatGas. Some might call this setting the bear trap, but the bears should know better [omitted expert technical analysis]...
Selling #NatGas $UNG pic.twitter.com/YLh1jtebJT
— Veteran Market Timer (@3Xtraders) September 17, 2024
Then I called the reversal in NatGas
#NatGas joins the party 🥳
— Veteran Market Timer (@3Xtraders) September 19, 2024
I did post a few short term Natural Gas charts; the following one confirmed the trend was still higher.
US Oil is bought at the lower end of the range. #NatGas #GOLD also higher #FOMC #TheFed pic.twitter.com/mNUQIDAxH9
— Veteran Market Timer (@3Xtraders) September 18, 2024
Of course most retail short sellers in Natural Gas can't even read a chart, let alone trade something as volatile as Natural Gas, while at the same time trading several other markets.
The Bottom in Oil
The only reason I mention the oil trade is that Oil & NatGas seem to run hand in hand, but I also want to point out how easy it can be to call a market bottom as the most recent bottom in Oil was.
This one was easier than most
To Document
Sept 9th $66
#CrudeOil retests a lower trend line on the 15 min chart. #OIL pic.twitter.com/pCUrBGyHNX
— Veteran Market Timer (@3Xtraders) September 10, 2024
Bottom was confirmed more than once
US Crude Oil #CrudeOil $USO https://t.co/kyMgeJFugK
— Veteran Market Timer (@3Xtraders) September 15, 2024
I even sent the White House a friendly reminder to refill the Strategic Petroleum Reserve
Biden should refill the SPR, before #CrudeOil prices soar again. @WhiteHouse pic.twitter.com/wfVJk6xWz5
— Veteran Market Timer (@3Xtraders) September 14, 2024
Of course I make this all look easy, but I tweet hundreds of charts per week, and even that is only 10% of what I'm seeing, on any given day.
As usual I'm not going to tell you what comes next, but I can tell you that my 401k money remains sidelined, until I see better opportunities.
Fake News networks, reporting New market highs, and other nonsense, is only good for headline risk.
Take Care, AA