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Yup got burnt a few times myself. Decay does work in your favor. But it still requires some intelligence in your positioning in UGAZ.
Hope UGAZ goes up to 80 before Christmas so we can all short it!
R59 just mentioned that is kind of strange that they would choose to RS at almost 6.00/sh....I remember trading DGAZ under 4.00 last year then it ran to 8/9....Something is not kosher...The short % in UGAZ is at a peak. Could it be that they know NG is going down and they want to continue to short UGAZ. Since some investment firms risk management does not allow trading under 5.00...
Nah no way that would be to logical eh
GLTA
They will pop NG when peeps least expect it. That's how these crooks operate. The week we get 10 days of warm ensembles days they will pop it!
MHO
GLTA
NG is bit different than volatility. There's a NG bull Market and a bear market. There are also seasonal time frames where shorting UGAZ is profitable., But to say that you will short UGAZ and make money in a year is only true if your in a bear market. Lucky for all of us we are in a bear market and UGAZ in MHO is a big time short after the next pop. All the way till March.....
Montly:
https://www.prnewswire.com/news-releases/credit-suisse-ag-announces-the-reverse-split-of-its-ugaz-etns-300571151.html
Should be trading 50 or 60 dollars on 12/20/17 or more. Of course could be less. I think big money wants to take it down further...You will see more shorting soon!
Although have to say the daily is extremely oversold.....
Pay attention to % because it goes down/up a heck of a lot faster at 60 dollars!
GLTA
UGAZ RS 1-10
https://www.prnewswire.com/news-releases/credit-suisse-ag-announces-the-reverse-split-of-its-ugaz-etns-300571151.html
NEW YORK, Dec. 13, 2017 /PRNewswire/ -- Credit Suisse AG announced today that it will implement a 1-for-10 reverse split of its VelocityShares™ 3x Long Natural Gas ETN ("UGAZ"), expected to be effective as of December 20, 2017.
The reverse split will be effective at the open of trading on December 20, 2017. UGAZ will begin trading on the NYSE Arca on a reverse split-adjusted basis on such date. Holders of units of UGAZ who purchased such units prior to December 20, 2017 will receive one reverse split-adjusted unit of UGAZ for every ten pre-reverse split units of UGAZ. In addition, such purchasers that hold a number of units of UGAZ not evenly divisible by ten will receive a cash payment for any fractional number of units remaining of UGAZ (the "partials"). The cash amount due on any partials is expected to be determined on December 27, 2017 based on the closing indicative value of UGAZ on such date and will be paid by Credit Suisse AG on or about January 2, 2018.
The closing indicative value of UGAZ on December 19, 2017 will be multiplied by ten to determine its reverse split-adjusted closing indicative value. Following the reverse split, UGAZ will have a new CUSIP but will retain its same ticker symbol.
The reverse split will affect the trading denominations of UGAZ but it will not have any effect on the stated principal amount of UGAZ, except that the aggregate stated principal amount of UGAZ will be reduced by the corresponding aggregate amount of any cash payments for "partials."
None of the other exchange traded notes issued by Credit Suisse AG are affected by these announc
Ty. The uptick rule...
Nope not I. Last I heard he was not even watching the chart. Was sure that a winter run is coming...
GLTA
ya scalping D bought 36.30 and 36.40 thinking she will hit 39/41 tomorrow or Friday...
You can average down from any position. Just need a large bank roll.
The big player is longx he bought 40k shares 8 plus...
Thats a lotta of mula!
Yes agree! Let it get to 2.85 so I can load DGAZ
Thanks,
Not a proponent of the AB site...
ty interesting indeed!
I agree, just another nail in the coffin was my intended alluding.
US EP have their own home grown issues. Is called too much gas and no demand! Until foreign/international infrastructures are erected to facilitate NG delivery price will remain cheap in the good old USA! Short all pops in NG I say!
GLTU
There are US companies currently buying Canadian NG.
You must be referring to this article?
http://calgaryherald.com/business/energy/canadian-natural-gas-producers-set-to-strike-back-against-u-s-shale-as-glut-eases
I think a new trading channel will form soon. NG 2.4/2.50 to 2.80/2.90..should bounce around there once maybe twice then head to low end after late January!
However looking at the chart. we can bounce to 2.75/2.80 next few sessions. If I see NG 2.75/2.80 Im loading DGAZ again. Did pretty good so far in the last 5 days or so.
Scalping not staying tied to any instrument for more than a trade!
GLTU
Remember investment firms risk management dept does not allow purchasing stocks/etf under 5.00...So where so you think UGAZ is going in the next few days?
Thats when they cover MHO
Bot DGAZ 33.35, 33.90, 34.00
Sold DGAZ 36.30, 36.81
GLTA
Agree but you have to play the trend Which is down!
A bullish homing pigeon is a double candlestick pattern that can appear in Japanese candlestick charts. Candlestick charting is very popular among technical traders, because it emphasizes both short-term intraday and interday price relationships; when it is used appropriately, the patterns contained in candlestick analysis can help identify trends and allow traders to spot exit and entry positions. The bullish homing pigeon pattern is easy to spot and understand, and it can act as a precursor to a reversal when it occurs during a significant downtrend.
The bullish homing pigeon is made up of a long bear candle, red or black, that is immediately followed by a much shorter bear candle completely located within the vertical range of the first candle. It is believed this candlestick pattern shows a real loss of enthusiasm by sellers, who have diminished ability to exit their positions and push the price any lower.
Momentum has clearly slowed with a bullish homing pigeon. While this could just be an indication of a weakening downtrend, it may be a sign of a coming trend reversal. Traders may elect to exit short positions or even enter long positions, especially if the market has been in a consistent downward movement.
The day following a bullish homing pigeon is particularly telling; if the next candle is bullish, or green or white, traders take it as confirmation of a reversal. Some traders even accept a large gap or a higher close on the following day, not necessarily requiring a positive trading session.
Read more: What does a Bullish Homing Pigeon pattern tells a trader? | Investopedia https://www.investopedia.com/ask/answers/112814/what-does-bullish-homing-pigeon-pattern-tells-trader.asp#ixzz50jIN4KIW
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Herb, when we pop since all indicators are over sold. I expect we head to the 200 MA at 3.03/3.05...This should put UGAZ 8.10sh... Should get you close to even. I know that others on this board think it is going higher. Im not one of them. If I see UGAZ @ 8 I will start bleeding my shares.
NG 3.03 - UGAZ= 8.10
MG 3.10 - UGAZ= 8.80
GLTU
Dollar there is a concerted effort not to let ugaz up. Everytime she gets to a certain point out comes the big asK (lol)...They keep pressing forcing folks that want out to hit the bid. Big boys are short futureand and short UGAZ and long DGAZ. Making money in all facets...
Remember what ever goes down Thursday will go down Friday. All indicators will be OS Tomorrow for sure.. I'm not holding this POS over weekend.
Dont think there is end in site for this..Big money in control!
Hope your right GLTU
It is about production vs demand. Technology has facilitated fast production that demand cannot keep up with. I agree there will be a pop it wont be significant and back down we go!
Im in cash waiting patiently
GLTU
Yup Ty, The issue is how long they are planning to stay!
I agree with ya. Been scalping since Monday.. We shall see if there is a pop left in UGAZ..
They keep buying ugaz big time. Yet it keeps going down.
Another high volume day. Yesterday was all time high or 52 week high. Yet it keeps going down...
Not making sense to me. Glad Im in cash. Scalped UGAZ for chump change today. Putting in orders for DGAZ tomorrow.
@ 7.10
@ 6.80
And hope we get reversal heading into weekend!
GLTA
Thanks Bud. Think DGAZ is a buy after next NG pop. IF we get a pop next week..
Oil looks like it wants 54..Not interested in CHK or SWN right now..Looking though