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Agreed. This is what I said yesterday. Should see a pop. Can we hold it? We'll have to see how bullish or bearish the draw is tomorrow.
The forecast is -54B
I'll take luck anytime! I wanted to pull the trigger at $3.48, but just couldn't bring myself to hit that Buy button.
There are virtually no catalysts on the horizon... Having said that, we could see a small up day tomorrow, then back down.
That's Awesome! Got me beat. LOL Out of three trades, I'm only up my last two times and breakeven on my first one.
Gees! That 6mo & 1yr chart looks Devastating!! Natty holding true to it's Widow Maker name so far this year...
At this point, that's inevitable. This is not a penny stock so the risk of everyone dumping before an RS is not in play here. The price of Boil tracks Natty.
Actually the real threat is Decay here. Because of how leveraged ETFs are constructed, they are only intended for very short holding periods, such as intraday. Over time, their value will tend to decay even if the underlying price movements are favorable.
Well, back in 1998-99 the price was... UGH
Dec - 1.72
Jan - 1.85
Feb - 1.77
Mar - 1.79
And... In 2020
Feb - 1.91
Mar - 1.79
Apr - 1.74
May - 1.75
June - 1.63
And Jul - 1.77
WOW! $3.60's today?? Actually Boil isn't even trading 2X lower. Natty wants to hit that $1.80 level or lower. UGH
Slowly bleeding and I'm tempted to jump in, but there's no catalyst at all to push this higher going into the weekend. Of course that's normally the time it gaps up the highest!!
I hear ya brother! I was out at 4.13 today and watching now. Two bearish draws in a row now and doesn't look good. I posted 1.85 a couple weeks ago and it sure looks like it's trying to get there in a round about way...
yup! Kerrisdale takes short position in UEC
https://www.reuters.com/markets/commodities/kerrisdale-takes-short-position-uranium-energy-shares-fall-2023-03-23/
LOL Trying!
I don't know... The storage reports keep coming in lower than expected two weeks in a row now.
We shall see. GL
My wife and I are still stuck here!! :( It has never been this cold and rainy through basically the end of March. This winter here in Cali has been unbelievable! It actually snowed a few weeks back and we are only 1,000ft above sea level here in So Cal
LOL So true!!
Just got back and the gang's all here! Started with a small position at 4.08.
I know. I was having fun. :)
I'm about 90% in cash waiting on the Fed tomorrow...
I'm going Home since I didn't go Big! LOL
LOL Like I've said, I've been planing Natty back when it was UGAS and it's a roller-coaster ride almost every year. You feel sick one moment and like your on top of the world the next. Mostly this year, just sick!
I'm glad you made it out ok! :)
Exactly! Not taking any chances. Just a ridiculous swing! Natty never disappoints to be out of the norm. LOL
GL
So Manipulated, Glad I held, but out at $4.70
They actually added gas 9 rigs last week! I think that's the most in history for this time period. This is contributing to the Speculators and Hedgers BOTH net short NG.
https://www.aogr.com/web-exclusives/us-rig-count/2023
Wow! Just saw this. I guess I shoulda waited to add. It's hard working and trying to monitor this.
Come on Natty! Bounce time. GL
Last buy at 4.30
Added 4.34
Jumped in at 4.61 till Monday. GL all!
You may get your chance tomorrow. Normally after a bearish draw like today, it takes another day to mull over. BUT... In this environment Natty could go straight up to $3.00 tomorrow. LOL
GL I'm laying low as well...
Too funny! Bad EIA draw and up goes Natty!
https://www.investing.com/economic-calendar/natural-gas-storage-386
Out at 5.81. Nice 14% move today! Not getting greedy.
I saw that! 44%-88% would be Awesome! Of course I would probably be out way before the 88%. LOL
Got that right! Nice short Analyses video below...
Jumped in with Last second fill at $5.10...
Boil's actually holding up well! Only down 4.5% vs NG down 4%. Boil should be down around 8% as of this post
Come On $4.90'sss :)
Thinking we may just get back to $4.90-5.00. If so, I'm back in.
Thanks brother! Have a great rest of your week.
What a surprise! I thought I put a sell order in early this morning at $6.04 and came back just now to find I never hit enter. LOL
We'll see how funny it is tomorrow at the open...
You and me both. I've traded Nat Gas since the early 2000's and I don't remember every seeing this much volatility as I have here. Of course back then it was UGAS.
What a crazy ride to witness with Boil over the last few months. Glad you made a profit. Lets see what happens in the next few days!
Take care brother