It feels as if the political baton has been passed over the Atlantic, with the announcement yesterday that the Democrats had won the vote in the House of Representatives to impeach President Trump. As we in the U.K. had to go through the embarrassment, and the peculiarities of the House of Commons rules and procedures, as one side favouring remain, representing different parties but not always their constituents, out-voted a Government aiming to put in place what they described as the vote of the people to leave the European Union.
After a few years in the wilderness, and I do mean living on the Isle of Wight by the way, I was quite taken aback one day when two industry jargons were used in a flourish, as if I should have known exactly what they meant, one was “PRONAP” and the other was “FEIMOPJ”. Once I had worked out what they represented, I was then fascinated to know how they traded in the market.
We make decisions every day, some good ones and some bad, normally those judgements are made to get things done, but on occasions traders will decide to do nothing, to wait, for a market to move to their desired target, or to wait for something to just change. As we approach a significant period in the year, where seasonality starts to have an increasing influence on our market, traders are naturally a little hesitant, waiting and wondering what happens next.
I had to write a SIMON SAYS on the LPG industry in Spain, especially as I’ve just got back from Ibiza, although not on the mainland, it is very much Spain, with Paella, Serrano ham, and okay, with just a bit of hippie and house music influences added. The picture in fact is the Spanish chef we used to cook Paella, his name had to be Ignacio, and his flair for cooking reminded me of a similar flair for trading associated with his LPG namesake.
Many years ago, when I was young and single, I would always come across this guy, I never knew his name, but every new hip bar I went to, he was stood there, glass of champagne in hand. I got to know him, especially as he was able to tell me which the next in-bar would be. I always called him “the Indicator”. It’s funny how we try to spot commodities that can likewise indicate the next big move in the global economy.