Morning Update Dec 26, 2019

Still hanging around the house today, got some LEGOs to play with a 6 year old. Right now I’m going to continue to hold UNG. 30% of my funds are still in UNG with an average of $17.32. The price at this moments sits a $17.5. when regular market hours open, I will place a stop on 30% of my holdings (1/3 of my holdings, not my funds) at my average of $17.32. I will continue to hold the other 20% of my funds.

NG1 on 2hr chart at Tradingview.com

Looks like gas is back at resistance; for this reason, one could argue a need to reduce now. As for fundamentals, looks like weather is still teasing with cold forecast around 15 days out. I don’t have a recent update on supply/demand, but I believe weather is carrying the weight right now. If the forecast continues to show cold that will actually show up, prices will drift higher. If cold continues to tease us with day 15 showing cold, then just disappears, we’ll stay at this ranger or go lower.

I’m not really counting on cold and I probably should reduce, but I am a good position to hold for a chance prices go on up. Trying to play the trend here. We’ll see, only a few more minutes and my stop will be in place.

Oldinvestor

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