ETFs, Leveraged ETFs, Sector Funds

[No-Quarter]

This morning's update below is more of the same, and that is encouraging.

With the rise in equities this week, I was able to sell a couple of things that are no longer underwater (FNGU being one), and can now look to buy more BOIL and AGQ.

I like NatGas and Silver these days. GLTY.

Meanwhile, natural gas prices traded slightly lower yesterday following Tuesday’s big sell-off. The new front-month November 2020 contract eased 3 cents or 1.3% to settle at $2.53/MMBTU. The contract continues to be pressured by the triple threat of a bearish early-October temperature outlook, recovering production, and stagnant LNG exports with both Cove Point and Cameron still shut-down. This has fueled ongoing concerns that inventories will top 4000 BCF this Fall and could even challenge capacity in some regions. Admittedly, the near-term outlook is indeed relatively bearish. I continue to expect bullish injections but, with a robust storage surplus, the natural gas investor community is demand wider bullish margins. Longer-term, however, nothing has changed and I remain confident in an evolving bull market this Fall and Winter with an upside price target of $4.00/MMBTU. I have not added to my long BOIL position due to the poor near-term sentiment and large contango in the futures market, but overall remain aggressively long via both ETFs and E&Ps, none of which I have any intention of selling.