Back in, 3.29 avg. Hope the 2 ft. of snow forecast for NY will get this ship turned around. UGAZ

Watching this one again.

XONE

Wow, glad I bailed pre-market.

Looks tempting here in the 4.30 range but nat gas is tanking.

GL to all

Wow, UGAZ +33.33%

Lets hope the momentum continues tomorrow.

Two weeks ago I would have said absolutely, probably higher but now I highly doubt it. With the beta decay eating away at potential returns every day it would take a perfect storm of really cold temps, lower than expected injections and huge withdrawals to get this ship turned around.

I ignored my own advice and started loading when the daily RSI approached 30 so now I am the uncomfortable holders of 5000+ shares in the 5.50 range. If UGAZ dips into the 2's I will have to eat huge losses but that's the game we play.

I'd be very happy to see 6's again at this point as nat gas could have a couple more legs down before bottom.

Good luck

Even if NG is heading towards 2.50 we should see a nice technical bounce on oversold conditions.

Huge manipulation going on here.

Still holding a substantial position in UGAZ, bought more today.

Not liking my current average of 5.14 but will top up to 10,000 shares if we see 3.50's this week.

Good luck to all on UGAZ.

You must be new here.

ELAY has no technology, no platform, no anything.

Scam "company" run by a conman.

UGAZ down 15% but GASL up 11%.

No rhyme or reason to these ETF's anymore.

Bought more UGAZ 7.38 and will liquidate my DGAZ before the close.

Happy trading to all

Good start for you Horns, good luck.

RUSL

Nat gas briefly touched 3.80 yesterday but just dipped into the 3.47's and still falling. I didn't see that coming.

I bought DGAZ pre-market to offset my UGAZ holdings until this turns around.

Good luck to all

EDIT- stopped out of DGAZ, time for UGAZ to run

Even though it appears to be going lower I loaded some 8.50's as well.

GL

Good call. Let's hope we get another crack at the 1.70 range on RUSL.

Cheers

Proceed with caution on RUSL and use stop losses if possible. We got our technical bounce off of extreme oversold conditions but fundamentals for Russia are still UGLY.

I'm spectating for now but good luck, I hope this thing takes off for you alchemytrader.

Never regrets. Sold 2.33 for decent loss before it crashed to 1.68 but got 1.80's filled and exited low 2.50's. Walked away with beer money.

RUSL

Well said. UGAZ

Not holding overnight, RUSS/RUSL could gap 30%+ either way.

GL to all

Smell you later dude, no one needs to read your crap.

UGAZ

Interest rate hike to 17% has not stopped the Ruble's decline, I'm betting RUSL hits 1.70 again.

Scalped out of RUSL and bought RUSS.

Russians dumping Rubles for $USD in anticipation of government control measures preventing sale of Ruble/purchase of $USD.

$$ CHA-CHING $$ RUSL

XONE looks interesting again.

Will be interesting to see if a triple top plays out for RUSS around 46.00, could be as early as tomorrow.

That would put the daily and weekly RSI on RUSL in the 15-17 range. Extreme oversold conditions.

JNUG at 2.44 pre-market.

Tempting but it looks like sub 2.00 is coming before the R/S on December 23rd.

Cut my losses pre-market, not touching this one again.

RUSL

Crazy that RUSL was $31.10 a year ago.

Plenty of gaps to fill and if it does reverse we could see a bounce back to the 8.60 range (or 51.60 post split).

GL to all

Agreed. Russia's Central Bank would need to raise interest rates another 300 basis points to 13.5% in order to curb inflation but that won't happen anytime soon.

There will be a play here at some point though as the daily/weekly RSI won't hold below 20 forever. The market could interpret recent agreements with India over oil, nuclear power and weapons manufacturing as positive.

I'm up to a half position and new average at 3.86, betting on RUSS profit takers and short covering on RUSL before the close.

EDIT-sold my RUSS position as well

What broker do you use? I can never get 3X ETF shares short anymore.

JNUG

when did JNUG/JDST decouple???

JNUG currently -11% and JDST is only +2.3%

Strange

Tough call. Given the current implosion of the Ruble and economy in Russia I would say RUSL never sees (the pre-split equivalent of) 11.00 again.

It should get a technical bounce in the next 3-4 trading days but the daily RSI will likely hit 15 before it happens. Just my opinion of course.

It won't help you now but in the future I would consider the following strategy with 3X ETF's:

Say you buy RUSL at 10.00 expecting a reversal but it continues down. Consider buying the inverse fund (in this case RUSS) as well until a reversal is confirmed and then dump RUSS and load more RUSL. Averaging down when the RSI is above 20 is very dangerous.

Good luck J44, hope this reverses hard for you.

I'm in RUSL with an average of 4.65 and I'm getting killed but I bought RUSS as well at the open to offset any further losses until this turns around.

Time to short ASHR IMO.

Resisting the temptation to buy here. Warmer weather pattern looking out a couple weeks (especially compared to last year) should drag UGAZ down in to the 6's IMO.

I see no reason for a reversal this week.

GL to all

Set my stop for 6.80, let's see what happens.

RUSL

Loaded more at 6.39, looking for a gap up tomorrow.

GL

Looking for re-entry but another gap down looks possible for tomorrow. Not seeing any catalysts for a reversal in this down trend aside from a possible technical bounce as UGAZ approaches oversold territory.

GL

RUSS within .60 of filling the last gap, scaling into RUSL today.

I'm not buying the positive Russian GDP numbers and low oil prices SHOULD BE devastating to their economy.

GL to all

EDIT- first buy at 6.34

Back in UGAZ at 10.96 avg.

GL to all

Technically yes but it is extremely unlikely an underlying fund would move that much in a day. GDXJ is the underlying fund for JNUG/JDST but I've never seen it move much more than 10% in either direction for a max move of 35%+- on JNUG/JDST.

Until you are making money consistently I wouldn't even touch the 3X ETF's but if you must, get in and get out.

ALWAYS protect yourself with a stop loss even if it means taking several small losses in a day to prevent the massive losses you can take when something tanks or reverses unexpectedly.

GL

Holding over the weekend was a pure gamble and selling JNUG/loading JDST was a bet on Gold hitting resistance at 1220.

GL

EDIT- stop set at 15.20 on JDST, looking good so far

Out JNUG at 4.33, loading JDST for a pullback...

With a tight stop of course.

Loaded a bunch of 3.38's after hours.

GL to all

JNUG