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Maybe before the close..lol
Interesting, production continues to climb:
North Dakota oil output posts surprising jump for October
REUTERS 10:59 AM ET 12/9/2015
By Ernest Scheyder
WILLISTON, N.D., Dec 9 (Reuters) - North Dakota's daily oil production rose slightly in October, a surprising increase amidst plunging crude prices that shows the state's energy industry may be more resilient than previously thought to pressure from OPEC and other global forces.
The state produced 1,168,950 barrels of oil per day (bpd) in October, compared with 1,162,159 bpd in September, said the Department of Mineral Resources, which reports on a two-month lag.
Natural gas output rose 3 percent to 1,654,594 million cubic feet per day.
The number of producing wells hit an all-time high in October of 13,173.
The count of drilled-but-uncompleted wells fell 11 percent to 975, bucking a months-long trend where the number gradually grew. (Reporting by Ernest Scheyder; editing by Grant McCool)
NG 2.07... man what a terd! UGAZ headed to 2.
20% a day this week rollover into Jan 16s. At 40% today:
Velocity UGAZ
Sorry, only way you see 11 is with the next 1 for 10 reverse split, imo.
GL!
Same here, 60% out this morning, what a beating... biggest decline in NG in years/history and I was on for the ride.... unbelievable.
I just made pasta and used my NG stove, on high! Should see pop tomorrow!
Thanks RFP!
Well the price of UGAZ doesn't move but NG pops up so NG now has to go that much higher for you to reach your UGAZ price target.... so yes, you get "decayed".... that being said, once winter build/bullish report/Arctic front happpens, we should hopefully overcome... that's the plan anyway.
GL!
So UGAZ product page says UGAZ is 100% on Dec 15 contracts now. ?? Does that seem right, didn't expect that.
Velocity UGAZ Product
I'm seeing S&P GSCI NG Index +1.35%, UGAZ +3.85%
In for some more @ 6.11
and there's your chance...lol ughhhhh
There's your 5 !
I agree... supply, shoulder season priced in, next big move most likely to the upside.... we'll see soon enough. That's not to say you don't get a chance to buy in a little lower in coming days. I'm in large, have flipped in and out a couple times for a quarter or so but am holding for a bigger pop now. I think spark will be a bullish weekly report, maybe tomorrow, maybe next week, but soon.
Patience is required now, if you've held this long. Chances of nice run in next few weeks goes up every day, and it looks like NG bottomed. Sold 75% yesterday on spike, but bought it all back .15 lower when it pulled back a bit.... not much but helps me fight the decay a bit. Didn't do it today since imo we're going to have some nice big green bars coming and don't want to miss it.
On another note, anyone thinking of or shorting S&P now? Took a small position in SDS (Inverse 2X S&P) earlier when market was up strong again. Will probably add to it if mkt continues to go up, inevitable crash coming imo.
Be nice to see shorts get squeezed here...
Yep agree, but am thinking the rally starts earlier this year since its been run down so fast and hard already, hoping anyway.
In for another chunk this morning at 6.01 ...
I love that, "they can literally change with each consecutive model run", i.e. they are completely unreliable...lol
“The best (and worse) thing about GFS models and natural gas’ price close relationship with them is they can literally change with each consecutive model run. As such, we could once again see a flip flop in the models on the 12z run today and prices move higher into the pit close,” said Kingston."
Wow... it just won't stop going down...Congrats to those DGAZ folks (not me)!
Did the same, actually dumped it all at 7.6, bought a chunk back at 7.33 so helped myself by about a quarter. We're about to lose more as it relates to NG price. Nov contract about 3-4% higher than Oct, so tomorrow, NG is nicely higher but our UGAZ is the same....decay at its best.
Careful with that one, DGAZ, imo. We're near all time lows in NG with more demand on the way. Much more upside potential here than downside. GL!
Yeah but Oct up about 4 cents, I'll take it for now.
WOOW.. hell of a gap up. If I were short I'd need some diapers this evening, but I'm not. SWEET!
Sweet rally!! Been waiting to see that green!
Another bite, 3K shs @ 6.99
El Nino could cause warmer temperatures in the north while causing lower temperatures to the south... but as someone else said, winter expectations are priced in and NG has a lot of support here, not to mention it is cheap. I'll continue to load more given an opportunity.
This is the strongest El Niño for late summer since 1997. If this trend continues, it should help deliver warmer than normal temperatures from the northern plains into Canada during the heart of winter and cooler than normal conditions across the southern part of the United States. Keep in mind many details have yet to be worked out of the forecast, but it will prove interesting to watch.
Wow, then you should put your life savings in DGAZ, GL!
Loaded another 3k shs in AH this evening.
Thinking time to take another bite...
Not rubbing it in but I think you (Fanthos) sold at the low or very close to it, am hoping anyway! :)
and yet some more at 7.698....
Excellent! Why aren't you using the ATP platform?
Roger, wasn't sure. Hopefully we're at a bottom here. Starting to load but avg is about 8.35 now. If we drop to 7.80ish, will load more. GLTA!
Not sure if you were saying you couldn't enter extended hours trade...For Fido, for extended hours trade, you have to use the website and select trade and then the extended box, or from Active Trader Pro you select a directed trade. You have to call a Fido rep to enable on your account.
Nice entry on UGAZ! I'm averaged in a bit higher, @8.40 w/more to buy if we keep going south.
Yeah no doubt, but don't see a big downside here. I'll be building larger position in UGAZ in next few days, assuming price allows.
Nibbled again at 8.45
Back in UGAZ @ 8.69, lol, think we have another up leg on the way this week.