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Gotta tell ya, I am about clueless with what just happened. I have a two week window and I will cut my losses. If this can't turn with increasing demand than I will sell by mid January. Of course, everything could turn on a dime without notice. This is one heck of a big mystery!
Wow! Quite the bounce and some people took profits. Still think it stabilizes now. Whew! I think we just got a gift going forward. Don't see the catalyst for anymore of a drop now. Next week should be a continuation of todays action. Bottom looks to be in for the next few weeks. IMO
This is great news, should allow for a continuation towards a move north into next week and beyond. I think we just got a Christmas present.
10 minutes until show time.....
Totally agree, they have been deeply entrenched for sometime. It has been a long wait for some sort of reversal. The report today could be the catalyst. Either way, next week into January could be the time for the bulls to take charge. I expect some sort of explosive move north once it starts. Good luck to you!
Interesting action pre mkt today. Hit the double bottom and bounced a decent amount. Up 5 cents so far in NG off the low today. Let's see if this is a true reversal this time around....
Man oh man, when this reverses it is going to be epic! One final push down to panic sell the last hold outs. This has no where else to go up after this last dump. Should be fun to watch the action later today if the report has a bullish slant. I am imagining that this caught a lot of people off guard. I know it has surprised me. Holding, waiting for the eventual run back up. Always happens in after this sort of a rout!
For me this is the last possible chance bears have to take NG down before significant demand enters the picture. I am banking on a sustainable rally into the next few weeks. Everything is aligned for it. The depth of this blood bath is incredible. I remain steadfast in expecting this sort of a drop to eventually end and reverse in a big way. Perhaps todays report will be the catalyst. Trade on your own DD though.
Agreed, just happy that demand is through the roof now n in the coming weeks. Artic air is coming in January.
It is not a coincidence that the price of NG has been low with such a warm Fall into early Winter, but that is about to change. After tommorows report the demand cycle will kick into high gear. Thus will certainly affect the price of NG short term. My guess is the channel will be somewhere between 2.6 to 3.00 into January. There will be one more run before things implode.....jmo
I was out of sight out of mind today, see we about double bottomed. Looking for a potentially slightly bullish report tomorrow. Should be the end of this madness going into next week.
Yep! Made an amateurish mistake and bought in way too early without stops in place. Live n learn I guess. Not overly concerned, looks like a bottom is in and artic air returns. All good! Now if NG would cooperate.....
Yeah once the numbers come out on the demand side of things with NG I expect a decent rally. 3,00 might come a tad later than the first though. Might need another week of high demand numbers to bring it up that high. Willing to be pleasantly surprised though. :)
I am pretty confident we get at least one decent move up before the winter ends. There is some serious cold air settling into the Northeast. This winter is shaping up to be a normal to colder than avg winter. Eventually the powers that be will take advantage of these low prices and spike NG. bet there is serious accumulation going on down at these levels for the next run up.
Agreed. it is a crap shoot!
Is the report tomorrow or Thursday?
That is my thought as well. If we see 2.95 to 3.00 I will consider myself lucky. Will bail at that point. Brutal dump in NG this early winter. Pretty much a given that we get some sort of rise in NG relatively soon. Holding, waiting.....
My pleasure, it is hard to get ones head wrapped around a ETN/ETF R/S. Having said all that, thank goodness demand has picked up substantially and cold weather appears to be here to stay for awhile, otherwise.......
Here is how it works, definitively without a doubt. Lets say Ugaz opens on the 20th at 60.00 and NG moves up or down 5%. UGAZ will move up or down exactly 15% more or less regardless of how many people buy or sell UGAZ. Hope that clarifies things. Another cool thing about the R/S though, It does not matter one single bit what the price is of UGAZ, it does not affect the movement of the PPS. 60 dollars or 6000 dollars does not matter, a lack of people buying Ugaz won't drop the price or raise it for that matter. Strictly follows the percentage move of NG. Just be glad the demand for NG is spiking as we speak. Will move the price of NG more than almost anything else. :)
Thank you! I am still not overly concerned about the current NG price. Way to much demand right now to keep this down for long. Just a temporary drop that won't last. I really do believe NG turned the corner and will make a more concerted effort to move north relatively soon. hanging in there,and like you, not worried about the R/S one iota.
Somebody is getting some cheap shares before the next bounce up! NG never fails to amaze me.... Wont be surprised if we close green today.
Good to see some follow through today in NG. We could actually be seeing a short term trend reversal towards higher prices. Thursdays action will be telling. Expecting some serious demand from last 7 days. More next week as well. Could continue to move up for the next few weeks into January.
I would completely understand! 3.00 will be a barrier anyway. I think it gets ugaz to 7.50 plus! Will be a battle over the next few weeks, but it is coming.
Going out on a limb here but I think Ugaz is going to move up into January. I was thinking 3.00 is possible in NG but it might just go higher. Weather dependent of course.
Howdy old friend! Glad to see you got in early to the party in UGAZ. My Fall trading was stellar but I got in too early in UGAZ , Again! lol. Hope to ride this out to break even, so far so good . Good luck to ya!
What is to talk about! Nothing will change when it occurs. Value of our accounts will remain the same. Fortunately the trend is currently up this week into next. Could see UGAZ hit 85.00 before it is all done. Shorts have to cover by 12/23/17. Could really ignite NG. Demand for NG is rocketing up as we speak. NG is undervalued by 25%. As for longer term, I am not going to be a buyer of UGAZ once the winter ends though.
Agreed! Been a tumultuous ride so far! I still think we get a decent run up to at least 3.00 to 3.20 in NG before it is all said and done! Just letting it ride for now.
Could really help move the price of NG!
Wow nice bounce! Short squeeze?
Well today is certainly a shift from last week. I really do think that the tide has turned and we are in a reversal based on increasing demand. Hard to beat that for an indicator. I am more interested in the rest of the week. need a couple of up days in a row, looking to break 2.80 tomorrow.
If you were short NG would you be covering your short this week? We could see some serious short squeeze this week into next!
Fortunately the price of UGAZ and of course NG are moving up as a gapper this morning. Suspected this would move up today as the demand numbers are going to be explosive. Very cold air has settled in. Could be the start of one heck of a reversal. UGAZ is currently up 76 cents off the all time low set last week.
Hope the heck not. Likely 65.00 is my guess. We are getting a little action premkt tonight. Would like to see a move north tomorrow. If we get it, we may be good to go for a change in direction. Very cold in the northeast, demand is really cranking. :)
Ugaz to 7.50 minimum and a possibility bof ,8 or better is my guess. Once the move north starts it will likely gain momentum. Looking forward to our first up day in UGAZ in a while.
Just about everything is in place for a significant run back up in NG. People who really control the pricing can see that demand is heading off the charts this winter. The price of NG has over corrected dramatically. My guess from every angle is a decent run towards 3.00 is in the cards soon. Gapper Monday is pretty much a gaurantee. Man it is cold, 50 percent of households use NG. Much of it in the northeast. We are currently in a deep freeze. Huge numbers predicted for the Thursday report. Capitulation last Friday. Add it up and it is take off time. Jmo
NG is wound very very tight at these insanely low levels. I am expecting significant moves off of these levels. Won't be surprised at 75 cent to dollar moves up in UGAZ all week.
NG is wound very very tight at these insanely low levels. I am expecting significant moves off of these levels. Won't be surprised at 75 cent to dollar moves up in UGAZ all week.
Yep! The demand this week is off the charts, Everything is in place for tsunami of a pop!
Just look at the charts for NG. It rarely stays stationary for long. We have been trending down for weeks and are stabilizing as we speak. Been in a narrow trading range 3 or 4 days now. Won't stay flat for long. Next move will be up, pretty much a guarantee with such cold weather upon us. Will be very good to see the turn. Likely next week.
This could be setting up for the biggest short squeeze ever! Up 43 cents off the bottom as we speak, everything pretty much is pointing towards a move north next few weeks.