More Than Expected

Three steps forward...

33
Thu, Mar 14, 2019 - 10:53am

In yesterday's podcast, we discussed the likelihood and necessity of a short term pullback ahead of next week's FOMC. Well here we are. We weren't expecting $15, however, but I guess that's not surprising, either, given the massive increase in open interest this past week.

And The Banks added another 3,400 contracts yesterday, bringing their six-day addition to over 63,000. As we discussed last week and again yesterday, it's likely that a portion of this is massive spread trades being placed. (Recall the 25,000 contract surge one day last week when prices were flat.) However,...

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Key Economic Events Week of 3/18

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