Justin's Playground

Quoting heispark

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{quote} He cut the loss finally. His strategy doesn't have an edge. {image}

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Quoting heispark

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{quote} Buffett Sees NatGas Sticking Around for Long Time https://www.rigzone.com/news/wire/bu...ticle/?pgNum=0 (Bloomberg) -- Warren Buffett’s $9.7 billion bet on natural gas looks even more contrarian today. As Democrat Joe Biden unveils a staggering $2 trillion clean-energy plan—the most ambitious climate package ever offered by a presumptive presidential nominee—Buffett’s recent deal to buy Dominion Energy Inc.’s natural gas assets is a stark sign he’s expecting that...

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Quoting heispark

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Warren Buffett Makes $10 Billion Natural Gas Purchase https://www.barrons.com/articles/nas...ry-51593779400 Warren Buffett’s Berkshire Hathaway is buying Dominion Energy’s natural gas storage and transmission assets in a deal worth a total of $9.7 billion, the company said in a release Sunday. Once the deal closes in the fourth quarter of 2020, Berkshire Hathaway’s (ticker: BRK.A) energy subsidiary will gain ownership of 7,700 miles of natural gas pipelines, vast...

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Quoting heispark

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Nat Gas Jan22-Dec21 spread: For 20 years of historical data, Jan-Dec spread has had a positive trend (Jan price is higher than Dec). I want to wait until the spread becomes narrower before I'd bet on spread widening. My risk is pre-calculated. I am not gonna bet on spread narrowing. It's riskier especially because this winter can be colder if weather forecast is correct. {image}{image}

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Quoting heispark

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{quote} May-June spread also looks interesting. Zero dollar (the point in which contango becomes backwardation) is your stop loss level. It's that simple. {image}

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Quoting heispark

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{quote} Actually, it didn't work out as expected. I thought it had a high provability based on former historic data but it broke the record in 10 years! It was my mistake that I wanted to be involved with such an illiquid spread product. As a result, I had a significant dent on my account. That's ok, it happens time to time. Move on. {image} Worth reminding of the risk of spread trading: {quote} You MUST have a stop loss!!

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Quoting heispark

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{quote} Closed this widow spread with $540 loss including commission due to unexpected warmer than normal U.S. winter. For me, this is the first loss trading calendar spread. Better not to touch shoulder months spread. Anyway, it was small leverage due to high volatility and I am glad I am out safely. {image}{image}

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Quoting heispark

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This is 1M chart of /NG. I was BE out. I had a bias to bull side. Timing was good and the market eventually reached the point I expected (50 EMA of 1H chart). I have a decent skill of both direction and timing. However, modern market hardly goes in a clear shot. They often turns the direction suddenly and removes chasers. They 'technically' blocks every profit tradings. This is why day trading is so difficult..... Every odds are against you in day trading. {image} That's ok. I have a wining edge anyway even in day trading. Mr. Market...

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Quoting heispark

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{quote} If you're up to some gambling, I recommend this one. Wait until early December and see if this winter is really cold or not. Risk/Reward looks tempting....... {image}

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Quoting heispark

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U.S Nat Gas export volume looks impressive now...... It's not neglectable anymore. {image} Source: seekingalpha.com

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Quoting Hutch

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If you have Netflix I'm sure you will like the first season (8 videos) of "My Name". It was the first time that I watched a Netflix Korean show.

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Quoting heispark

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{quote} WTF.... August /NG-/HH spread ended up wild. Perhaps I was wrong. It doesn't look like such a safe trade.... Not sure what made the physical delivery premium went negative... Anyway, glad I did't touch this. {image}

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