This may be strange coming from an expat living in Spain but you guys have no idea how much I miss going to a good ole’ fashioned American diner. No not one of those fake copies in L.A. they build on top of the original ones after tearing them down. Yes, I’m looking at you Mel’s – what the heck were you guys thinking? A solid American diner has an ambience unique to where it’s located, it must have a zany 1950s interior, there need to be impatient chain smoking career waitresses, and the food of course needs to be delicious with generous portions to boot. My favorite diner in the world is Carla’s Route 66 in Twentynine Palms – I think it used to be called Hutchin’s and had a Harley Davidson shop right next door. Unfortunately those old originals seem to be slowly disappearing one by one, which is a dirty rotten shame.
What got me to this theme was the second helping I’m taking out in the E-Mini, although I’m now on a spring diet and it’ll have to be only be 0.5%. This is one of those deals where it’ll need to take off within this session or it’s probably a stillborn. So I’ll watch it today and if it can’t get going then I may yank it either tonight or tomorrow. Which as you know is rare for me.
Natgas update – that’s quite a jump there after the weekend and fortunately it’s been in our favor. This alone may give you an appreciation why I never throw more than half an R at this beast. Anyway we’ll be moving our stop to about 1/3 of an R > break-even and below the most recent spike low. There’s a good chance for an attempt to fill this gap and we don’t want to be taken out prematurely has this has the tell tale signs of a possible runner.
Soybean Meal in on my watch list but it’s not there just yet. We’ll need a dip and full retest of the 100-day SMA and then we’ll talk.
Corn has also been on my watch list as you know but today’s price actions suggests that we’ll have to wait until the contract rolls over in a day or two.
I’ve kept two very special goodies for my intrepid subs – please meet me in the lair:
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