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Going to try and avoid entering a position into UGAZ too soon for a change. Anyone have an expected sense of the bottom for UGAZ over the next few days to a week? I suspect we see at least 2.75 in NG.
I would like to edge back into UGAZ but where this drops to is a wiild ass guess. Easily 2.75 in NG. I will slowly accumulate near 2.70 to 2.75 in NG.
OT; XIV after careful review looks really open to a nice bounce this coming week. I won't be buying anymore than a hundred to two hundred shares though but that ought to be enough.
You guys expecting another down day come Monday, sort of a repeat of Friday? If so the bounce might happen later in the day Monday or Tuesday. Either way the Xiv should be one heck of an easy play for 5 to 10 percent. I am buying Monday if things go the way I suspect.
OT: I looked over xiv yesterday. Looks very promising for a run back up once the smoke clears early next week. My guess the market bounces sometime mid day Monday and xiv moves up. Thanks for the tip.
Good to know I am not alone! Preservation of capital is becoming my new mantra. Like today, I sold an overnight trade and am staying cash over the weekend. Don't see a play right now and don't want to force it, usually ends badly.
As an aside, Been putting buy orders in way lower on some of my most recent trades with decent results
Appreciate your wisdom! Been a steep learning curve in ETN,s these past couple of years. Watching, learning and making mistakes. But trading ETN,s is my new passion. Really fun and exciting at times. I have learned that I don't and should not trade all the time. Best to be patient and wait for the trade to come to me.
Yeah I should have called, lol. OT; Watching UVXY and Dust but have not entered either one. The TVIX can either make you tons of cash or wipe you out. That recent low in UVXY would have been sweet to pick up.
Saw that. Usa market bounced NG at the open and I was up nearly 4 bucks off my purchase yesterday so I took the money. Thanks for your posts on trickle down, got stuck in my mind and I followed thru....800 bucks on the dead cat bounce!
Sold my hold overnight for 800 bucks profit earlier this morning. Glad I did as NG does not look like it will hold up. Dead cat bounce? Currently in cash.
Agreed! I am up 500 at the moment, tempted to bail after hours. Profit is profit. But perhaps there is more of a bounce in the AM. But as for the weekend going to cash. Or into DGAZ.
Looks like my gut feeling in a bounce was right so far. Was not easy holding thru the gyrations.
Yep, I bought and sold once and bought back in with a few hundred shares with an avg below 17.00. Waiting to see if I take profits or let this trade ride for now. Decent bounce in last 1 hour.
You are most wise. I have been at the receiving end of that pain, lol.
Yeah, I am being careful here as well. Have scalped once and will continue to do so as this settles out. NG has really flatlined now. Hmmm.,,,
Sure looks that way. I am currently scalp trading but would love to make a decent swing trade in UGAZ. Might be a bottom in here fairly soon with buying pressure off these levels. Anything goes when in freefall though. Huge drop off the Feb numbers in NG and a pretty significant drop off of March Futures. Always overshoots either up or down at times like these.
Picked up UGAZ at 70.10 for a flip. Looks like I might have made a good decision.
UGAZ looks near a buy at these levels pre report. Looks oversold and ready for a pop.
Am so looking for a bounce play in UGAZ Tomorrow or Friday. This is one heck of a selloff. Will be watching ur charts and trading activity closely.
Nice! I scalped a trade on the big U for a few bucks. Back in cash. Not holding anything over night. Might, big might buy U tomorrow or Friday for a bounce play.
Just completed a quick scalp on UGAZ for lunch money. No way was I going to hold U overnight.
Yes, I was just looking at the current trading pattern, looks unsettled. I can wait this out. Patience can be very rewarding at times. I am back where I was a week ago in my trading account and that feels pretty darn good. Lol
Sounds like a good strategy going forward. Currently in cash, almost entered Ugaz for a scalp but got busy with my work. Sitting tight waiting to see what develops tommorow.
Thanks SH! What a yoyo! Hope to play this better going forward. Appreciate the lucky break and we'll wishes. Now where does one go from here.....
You played this very well. I intend to be more patient going forward in my buying. Glad to be out with my shirt on!
I am out premkt and about even! Whew! What a drop in NG. Glty
Close enough, will sell into strength. See how it plays out. Made some amatuerish mistakes but not as bad as in the past. Waiting quite a while to buy into DGAZ but not quite long enough. Will work on being more patient for bottoms and tops. Appreciate the members of this board. Will be around a long time as I enjoy these 3x etn,s.
Send, appreciate the work you do here! I am watching for a return to 3.04 and jumping ship for now. Perhaps Friday.
I am looking to be out of DGAZ by Friday. Need about 20 bucks to be good enough. Anyone expecting that sort of bounce from current levels? I do! After hours looks like a nose dive for the AM. Either way, I am out by Friday. No way I'm going up against next week's roll. If we see sub 15 in DGAZ count me in next week. Now may I just get through this week, lol.
I do like how things are progressing following your charts. Fundamentally the bulls are running out of winter and perhaps profit taking will ensue come Thursday. I intend to bail out and sit in cash if this turns. But NG always overshoots, need to be sure to gain as much as I can if NG reverses substantially.
I see what you are talking about on the trend line. Notice that NG is holding the new roll value quite strongly right now. OT: TVIX is a tough nut to crack even with stops. But, everything looks ripe for a run in the VIX
You are not alone. My avg is about the same. Had a few opps to bail and held the course. Pretty much a trading range unless we break 3.04.
Understood! Trying to keep my spirits up on my underwater trade. I have sold a couple of times with a few lots to lessen the damage. Have plenty of dry powder when the reversal looks more obvious.
Yeah, I see us in a trading range for now. But trading so late in the winter months must be giving the NG bulls some pause on pushing NG higher. Thursday's draw will be bearish, could give D the push it needs to reverse direction. Liking the current reversal in NG at the moment.
All things considered the bulls for NG don't appear committed towards a renewed push to new highs. And NG is not up all that much off of the rollover price established on Monday. Things that make you go Hmmmm.
NG rolled over to new month. Opened at around 3.17 yesterday from Fridays close. But this does not change the value of U or D. Currently D is down because NG is up about 5 or 6 cents after the roll over.
Gotta hand to you SH, you nailed the action today. We actually saw a 16... dollar print premkt. Where do you see the price of NG heading over the next week to 2 weeks? Seems that it should be heading lower. With low draws coming and just a normal winter forecasted as we enter Feb. traders should drop out of the long side of the NG trade...
No worries, I have dry powder. Sold some shares Friday. Willing to let NG run it's course. I am a pro at being underwater and coming back from the dead, lol.
I expect a further drop in NG this week with the bearish draw and warmer forecast. But , I will dump my shares and walk if that happens. Crazy that I could not see this morning as a sell point premkt. Trading in March futures is the cause of the significant change in NG value on the roll over but the move up from the lows was a surprise. Basically unchanged for U and D since Friday. If NG moves up 5 or 10 cents tomorrow I will consider it a bull trap. Expecting a dump by Friday. Imo
The draws are going to be very bearish. I still think that NG is just hanging on. April futures are much lower. Hanging in there, looks like a trading range.