Mr. Scott's Crayon Thread

some gu would not shock me to see it morph so eyes on it, but this is what she prefers....

Was a bit late in the day for me my last attempt was at 6219 and got out sharpish no vol. But managed to snag a nice slice of the afternoon slide, was almost P4P as was waiting tad higher but I heard a voice

order flow was down, shorts were in order but we knew....move like that you get song...

Cracker Lemmy tells the story well.

Little fun double shark? Let's see....

still holding partial position on AN. just not sure if my broker gives me the true price, any way, added some at 886

Vive la France?

DAX, DOW, SPX and France40... looks like you are preparing a big short

AN, small 162 into bigger one.
Took out for last week's partial position however today's invitation looks friendly.

Mostly involved in my Kiwi trades but AC is one I am watching. Similar setup that the NC had last week. NC compared on chart

10y still holding the range

Gold seems to be moving closer to setting up.

Bit of Peso for Scott. Still waiting for that buy.

For those who follow the commodity stocks BHP put in profits today with an 8 billion turnaround from last years.

You can see from the chart that BHP and AUD are very closely correlated.

Spike reverse in coking coal used for steel production. Steel is going up but one of the ingredients is going down.

So steel needs Iron and Coke to manufacture yet one of the main ingredients (coke) spiked first then Iron as seen on chart. Interesting to see if Iron follows the same path as Coke.

I guess the question is why of the two main steel ingredients why has one fallen sharply and the other still rising. They both start from similar base? Is Coke leading the supply and demand story and Iron on a hype run? So just like Coke we get a decrease in output from major suppliers during the falling prices and just like coke we get an increase in production on these prices from major producers on a subdued demand from a market that was only propped up through Chinese tax incentives. Chinas excess production now equates to 21% of local demand.

I think Iron is now in the land of pumped speculation. And if we get lower demand in 2017 with increasing outputs from producers we could be setup for a large pullback.

Iron extension from AU which is normally tightly correlated and always re-balances one way or another when not. The spreads between the grades of Iron have widened considerably in this run up. You would have to say the intergrade spread has nearly double since June.

However shanghai billet prices back to long term average.

This is relevant to the AUD.

Nice one squawk. Thanks for all the charts. I'm aiming for guru status with this one.

Looks good Ben. I thought you already had Guru status..... Are you still in your kiwi trades. A lot of activity there today and still holding below.

EA is starting to look interesting again.

My GN chart.