NAT GAS THREAD - stocks futures chat - Page 12

Well I think the real rollover finally commenced.

It's slicing down thru the 30ema support on the 60min.  Next value area by volume isn't until 17.78 ..... If I do anything, it'll be if I can get a dip there.  

10 minutes?? haha..

I'm guessing that EIA Natural Gas Report that was released today resulted in the volatility... hope u didn't lose too much though

Quote:

Originally Posted by Rock Sexton 

 

You have no idea.  My average trade lasts me maybe 10mins.  LOL

i like a short here at .65 down to the .55-.51 area..  

Quote:

Originally Posted by tones 

10 minutes?? haha..

 

I'm guessing that EIA Natural Gas Report that was released today resulted in the volatility... hope u didn't lose too much though

Nah .... got out virtually unscathed.  Too bad too because I was up 80% on them last Friday.

Seriously though I don't stay in trade very long.  I'm more of a smash and dash kind of trader.  I'm working on developing more patience for longer trades.  UNG calls were probably the longest I've ever held a position in a couple years.

down to 2.50 which looks to be support.

lets see if it will fall through or bounce up

hey happy memorial day kevin

 where are you looking for next if 2.50 fails? (currently its at 2.48x)

from that chart it looks like next significant support is 2.25.

really craptastic volume as well(less than 1000 contracts).  whats the deal with that? l

so mad at myself.. i had some puts from last friday when UNG was at 18.

for some reason i ditched them on tuesday right before it proceeded to tank 10%or so in 3 days..I guess i was thinking it bottomed out.

Also, i was going to by puts last night on the 1%ish pop but i had too many drinks and decided trading with 5 jack and cokes in my system is a bad idea.

Would have been a good trade as well.

I could see this dropping down to 2.25 by end of next week. 

Ill look for the next pop to short yet again.. 

still in a downward channel though.  Global downturn can also hurt NG no?

Kevin, When you trade UNG you watch levels on the spot price or  technical levels on UNG? 

I figure since the spot price dictates where UNG moves, its better to focus on those levels.  Thats what ive been doing at least.

I still think 2.25 is in the cards before a bounce. 

commodities across the board have had a crappy May..

Huge day for BOIL  37.62 3.09(8.95%) and a nice bounce for UNG 16.89 0.71(4.39%)
 

2.47 0.06(2.32%)  Good Day so far
 

gunna take a small long position here