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UNG - Natural Gas ETF - Page 51

post #1001 of 1358
yea its holding..thumbs up for gas...
oil is taking a hit yet..gas is stable..signs of good things to come..as long as the ireland problem doesnt destroy markets..we should see a nice run up..after many sellings..plus its winter
post #1002 of 1358
gas rises
post #1003 of 1358
I was in on this with you Jock I got in @ 5.76 last week out today @ 6.06 will re enter if we see it really want to make a run above this 6.11 and hold.
Seem like when gas starts to smell good someone throws some TUMS at it lol sorry had to do that ;-)
post #1004 of 1358
I went short today with a tiny position. UNG is above the upper Bollinger band and I expect it to come back back down a bit over the next few days.
post #1005 of 1358
Quote:
Originally Posted by iikkakeranen View Post
I went short today with a tiny position. UNG is above the upper Bollinger band and I expect it to come back back down a bit over the next few days.
Possible.

It can break either way here, taking out the Nov 10 highs might attract some new buyers, but failing to make a move out of the longer downtrend will work out for you.

We will find out over the next 4 days.
post #1006 of 1358
Quote:
Originally Posted by StockJock-e View Post
Possible.

It can break either way here, taking out the Nov 10 highs might attract some new buyers, but failing to make a move out of the longer downtrend will work out for you.

We will find out over the next 4 days.
yeah, I was about to say that he jumped the gun a little early on going short as well..
post #1007 of 1358
Quote:
Originally Posted by StockJock-e View Post
Possible.

It can break either way here, taking out the Nov 10 highs might attract some new buyers, but failing to make a move out of the longer downtrend will work out for you.

We will find out over the next 4 days.
I do plan on getting out if it breaks 6.25 and not try to average down the price of my puts. So if my gamble goes the wrong way, it won't last long.

I think there is a good chance we'll get a genuine up swing soon if it's not already here, but in the short term UNG is overbought - I'm thinking about .50 of downside potential and much less upside (.10-.15) unless there's a decisive breakout.
post #1008 of 1358
One thing about nat gas is that the traders on the CBOE that play it like to fake out a lot.

They will run the stops and push past highs lows to trigger stops, then reverse it on you a day later, tricky bastards
post #1009 of 1358
Looks like it may be headed down, although the overall market action is making things less clear than I'd like. It may be just a coincidence that UNG bounced down from yesterday's top today. Without the market being down so much today's high would've been higher.
post #1010 of 1358
we will see volatility, but i think its UP for NG from here. looking to buy in but i don't know at what price.
post #1011 of 1358
Oh heck, I never did my homework on UNG properly. It doesn't work like, say, GLD or SLV where the price of the ETF moves with the spot price. UNG is a futures based product so it suffers from contango similar to everyone's favorite endless down-slope, VXX. Because of this it's almost impossible for UNG to settle into a long term up trend - that requires an unsustainable price curve in the futures. UNG will only go up while natural gas price is accelerating, merely going up in a steady fashion will not do it.

Check out this chart to see what UNG will do even if the futures go up.
post #1012 of 1358
Yep, stuff like UNG is not a long term hold, you trade it and get out.
post #1013 of 1358
Yeah, I just wanted to put that out for people looking at UNG as a way to profit from a possible long term trend change in natural gas. This is not the way to do it. I'm probably going to abandon it entirely once I'm done with this put trade.

As an investment in future nat gas price increases, I'm going to look somewhere else. Maybe a gas producer or (if I can find a good one) an ETF that holds a variety of related stocks. Time to do some research.
post #1014 of 1358
Quote:
Originally Posted by StockJock-e View Post
Yep, stuff like UNG is not a long term hold, you trade it and get out.

+1, may just be good for 1-2 months during winter season.
post #1015 of 1358
I will check the canadian etf and the u.s ..... maybe go for 2-4 % profit....
post #1016 of 1358
Damn, I should've sold before the report.
post #1017 of 1358
Quote:
Originally Posted by iikkakeranen View Post
Damn, I should've sold before the report.
Looks like you sold a bit early
post #1018 of 1358
A little thanks giving present from UNG.
post #1019 of 1358
looks like this one might be 4 real for the short term
post #1020 of 1358
Quote:
Originally Posted by thelongranger View Post
Looks like you sold a bit early
Sorry if I was unclear, I was talking about my puts. I was up 5 cents before the inventory report, got out at 8 cent loss on a dip after the initial spike up. No biggie, I didn't have a lot riding on this.
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