Investing

[Deleterious]

Isn't this the pipeline Russia just turned off a few weeks ago?

NATO Formally Blames Sabotage for Nord Stream Pipeline Damage

Quote

NATO said that a series of leaks on the Nord Stream pipelines between Russia and Europe were the result of acts of sabotage and that attacks on its members’ infrastructure would be met with a collective response from the military alliance.

The statement, from the North Atlantic Council, the decision making body of the North Atlantic Treaty Organization, didn’t provide details or evidence. It also noted that the damage to the pipelines occurred in international waters. But it marks the first time the alliance has formally warned that it would deter and defend against attacks on its members’ critical infrastructure following the now four documented leaks in the Nord Stream and Nord Stream 2 pipelines.

NATO Secretary-General Jens Stoltenberg separately wrote on Twitter that the sabotage on the pipelines was of “deep concern.”

“NATO is committed to deter and defend against hybrid attacks,” he wrote. “Any deliberate attack against Allies’ critical infrastructure would be met with a united and determined response.”

 

[gehringer_2]

43 minutes ago, Deleterious said:

99.9999% of all people, including me, don't understand that system.  Ironically, those same 99.9999% are the ones who will get bent over when that system crashes.  

The part that sucks is that the money the BoE is printing to bail out the bond holders is  more banker's welfare. Privatized profits with socialized losses - the modern way to bank!

[gehringer_2]

19 minutes ago, Deleterious said:

Isn't this the pipeline Russia just turned off a few weeks ago?

NATO Formally Blames Sabotage for Nord Stream Pipeline Damage

 

FWIW - the last thing I read said that apparently one line is still intact. Destroing the pipelines is hard to figure even by the standards of Russian logic but the number of actors with the capability to have done it does't leave many likely candidates. 

What strikes me is the pessimism it betrays. Whoever did this doesn't foresee any normalization between Russia and Europe happening for a long time.

Edited September 29, 2022 by gehringer_2

[Screwball]

Trade update.  Our trade may be wearing thin.

Down a little today, and as we know, the trend was down anyway.  It got to $67.45 which is .04 from filling that gap. Looking at the hurricane tracking and the shipping traffic, the disruption may be about over, if not over.

Those are tankers.  Only a few in the path it appears.  I will watch the action and won't hesitate to take a profit, but will let it run and see what happens - for now.

[Screwball]

1 hour ago, Deleterious said:

99.9999% of all people, including me, don't understand that system.  Ironically, those same 99.9999% are the ones who will get bent over when that system crashes.  

The only thing we need to understand is the financial wizards of the world are trying to put toothpaste back in the tube.

[Screwball]

30 minutes ago, gehringer_2 said:

FWIW - the last thing I read said that apparently one line is still intact. Destroing the pipelines is hard to figure even by the standards of Russian logic but the number of actors with the capability to have done it does't leave many likely candidates. 

What strikes me is the pessimism it betrays. Whoever did this doesn't foresee any normalization between Russia and Europe happening for a long time.

Fuck the EU  🙂

[Screwball]

We are back in the green, despite what the broader market is doing.

The gap is now closed.  I would like to see this close above that level ($67.49) so it becomes the resistance, and potential sell stop.

It had moved lower this morning along with the broader market, and less chances of disruption from the storm, but might have reversed on this news;

OPEC+ Discusses Cutting Oil Output at Next Week’s Meeting - Bloomberg

****

FOREX chart porn.

 

Edited September 29, 2022 by Screwball

[gehringer_2]

Yesterday's gains wiped out this morning. S&P briefly touched Tuesday's low and found some buyers. 

It would be nice to know if the Fed is really crazy, or just wants everyone to think they are crazy as strategy. Unfortunately we aren't going to know until after the fact.

[Deleterious]

German inflation at highest level in over 25 years

Quote

BERLIN, Sept 29 (Reuters) - German inflation was at its highest in more than a quarter of a century in September, driven by high energy prices, data showed, as analysts warned that the energy crisis has yet to make itself fully felt.

Consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), increased by 10.9% on the year, the federal statistics office said. A Reuters poll of analysts predicted a rise of 10.0%.

That was the highest reading since comparable data going back to 1996.

The increase was due to higher costs for energy - which were 43.9% higher compared with September 2021 - after a popular cheap transport ticket offer and a fuel tax cut expired at the end of August.

 

[Screwball]

test

[gehringer_2]

1 hour ago, Screwball said:

test

pass

[Deleterious]

PCE up 0.6% for August on 0.5% expectation.  PCE is the inflation number that the Fed prefers to use.  Ugly.

[Screwball]

Is anyone else having trouble posting here?  This thread or the board in general?  I have had trouble accessing and can't post.  Not sure this will work.  Yes, cleared cookies.

[Screwball]

 

[Screwball]

This should be with the images above, but I can't post both at the same time (maybe not this at all, not sure).

******

Trade update after close.  We lost some money today.  I was going to set a stop and sell at $66.25 and get out of the trade to make around $250 bucks for a couple of days work. The hurricane stuff looks to be over (as far as this trade - so pull the ripcord and taking the money makes sense.  Impulse trade anyway).
But given the news and rumors (OPEC) maybe no need to jump ship just yet (pun intended).  Today's print;

See chart one above

Notice how that candle hits the lines at the top and bottom.  It is red because it closed lower than it opened. Happens all the time, but what looks like a very uneventful day, is interesting when you look at the intraday chart.

See chart 2 above

The gap got filled around 10 am (also filled overnight but that doesn't count).  Could have sold early today and made about $450 - and there is nothing wrong with that.  But let's let it go and see what happens since we are playing with house money.

At 2:23 pm the price hit $66.25. Since that was the bottom of the gap, a perfect sell point. But it bounced right off that level to the penny.

That helps validate the sell point. It traded almost all day in the gap, so we will wait to see what happens. For now we stay long. Sell at $66.25.
It still might be a short trade. 

Which was what we expected from the get go. But it might not.

Edited September 30, 2022 by Screwball

[Screwball]

Today's update after fussing with that above for an hour.

Oil took a turn over night to the downside, which took this with it.  By the time the market opened, it was down quite a bit so I pulled the ripcord as soon as I could, which was about 9:33.  Sold at $66.00 just to preserve some profit.

It looked like it was a good idea as it plunged to the downside right after, only to recover, and actually get back above the $66.25 sell level. Imagine that!  But it is now drifting downward again.  But it doesn't matter since it was sold.

At the end of the day, we made $226.50 for a few days work.  Nothing to get excited about, but since it was an impulse type trade to scalp a few bucks, I would say it was worth it.

Edited September 30, 2022 by Screwball

[Deleterious]

I also sometimes have issues posting text with images.  Not all the time but once in a while I will hit submit and no matter what it just wont post.  I can never figure out why.

[Screwball]

1 hour ago, Deleterious said:

I also sometimes have issues posting text with images.  Not all the time but once in a while I will hit submit and no matter what it just wont post.  I can never figure out why.

This was really strange.  I didn't do anything any different that before.  I take the screen shots and save to a file (.jpg).  Then I open them and resize so they are 600 pixels wide, which makes them smaller than the original screen shot.

When making a long post I usually save it to a word file in case this screws up I won't lose anything.  I wondered if copy & paste from word might be the issue, so I copied from word to notepad (to remove any formatting that might be coming along).

Nothing helped.  I would push the post button, nothing happened.  Then when I got out, I couldn't get back in.  It would eventually time out.  That's why I thought the board had an issue.

Then I got the two images to post, but when I tried to edit, and add text, it said it took too long and wouldn't let me.

Really weird.

[Hongbit]

Big oil sees everything!  

They know what you are up to and will go to extreme lengths to keep their secrets quiet.

[Deleterious]

The S&P was down 9.3% for September.

[Screwball]

18 minutes ago, Deleterious said:

The S&P was down 9.3% for September.

Just for fun; October: The Month of Market Crashes? - Investopedia

[Screwball]

4 hours ago, Hongbit said:

Big oil sees everything!  

They know what you are up to and will go to extreme lengths to keep their secrets quiet.

Assuming you are talking about the pipelines.  From 2011. I couldn't find the article I was looking for but this will work.

New Transatlantic Cable Built to Shave 5 Milliseconds off Stock Trades - Popular Mechanics

There are more things going through the water than oil pipelines.  Cut the big money pipe and see how fast shit hits the fan.

Edited October 1, 2022 by Screwball

[Deleterious]

Anyone ever read Flash Boys? Good book about HFT people. They talk about building those fiber lines to the exchanges in New Jersey and eventually just reacting servers in data centers nearby. They would put fake company names on the servers so other banks couldn't see who had the servers when they walked through.

It was an interesting read.

[Screwball]

11 hours ago, Deleterious said:

Anyone ever read Flash Boys? Good book about HFT people. They talk about building those fiber lines to the exchanges in New Jersey and eventually just reacting servers in data centers nearby. They would put fake company names on the servers so other banks couldn't see who had the servers when they walked through.

It was an interesting read.

Yes.  By Michael Lewis.  All his market books are good.  I have them all.

Speaking of HFT and banks, there are Tweets and articles going around that a couple of banks in Europe are in trouble. Great, maybe we can bail out banks again.

[Deleterious]

All eyes on Credit Suisse tomorrow.