The negativity for natty gas reaches a fevers pitch today, if natty could be made into an effigy then it surely would have been burned today. The sentiment is fully loaded negative with traders calling for one dollar natty and professing from the rooftops that natty is in a coffin and all that is required is the lid closing. Keystone was buying heavily into today's close. Projection is a nice launch bounce now with intial target the 20-day MA and resistance cluster at 9.80-ish.This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
Hi KS,
ReplyDeleteI just wanted to say thank you for the blog, the bot, and your insights. Thanks in part to you, I've had a pretty good week so far. So superior to flipping coins.
What happened to the markets a couple of hours before closing?
This wasn't from "Anonymous", this was from Ande
ReplyDeleteNatty inventories tomorrow - and suggests more stockpiling as Canada natty reported today - may not be best time to go long - I like NG for the coming year but what of boil etf versus tvix - is there a risk of holding leveraged etf like this as long term equity vehicles? There are murmurs of gaz being goofy as ung already is splitting and trying to compensate for this unreal move down for NG.
ReplyDeleteYour thoughts? I like NG futures for tonight and pop before 1030 - selling at 10:20am or setting hard trailing stop -
Hello Ande, there is a lot of bullish energy that continues to burn off, and along with potential window dressing, and perhaps some dip buyers. Keep watching copper, JJC, and commodities, CRB, especially copper today since the move in JJC will likely dictate the broad market direction. Late day copper recovered to threaten the JJC 48.82 level, but closed there and could not move above. But that copper strength added market strength.
ReplyDeleteHello Richarab, sounds like you are on top of things. You are correct, 10:30 AM inventories today will cause natty, NATGAS, UNG, BOIL, etc... to all act wildly. Every ETF and ETN is dangerous. The only ones that you can really have some comfort in playing are the huge volume and liquid ETF's such as diamonds, DIA, spiders, SPY or Q's, QQQ, etc...
All the trading on this site is very high risk speculation and Keystone weighs the charts more than incoming news. Obviously the charts will build in the inventory news after 10:30 AM today. But considering the positive divergence across the daily and weekly charts and the uber negative sentiment with the cab driver and shoe shine boy telling everyone to short natty gas, Keystone is content to sit on the long side and add. This morning will be a wild ride for natty.
Thanks for your insight KS. This is one trade, long or short, that scares me more than any other trade that I've evaluated. The chart says take a spin long but fundamentals for natty scream continued weakness. It's hard not to look for good plays for a return to higher natty prices. Maybe some of the MLPs or even natty tech companies like FSYS and CLNE would be an option for some of us.
DeleteJeff
Enjoy your site , been playing UNG several months, always but puts or KOLD,never lost $'s , you would have a few more bucks to play the short side. Like the nat gas potential hope it works out but not best to be long IMHO>
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