Morning Update Jan 9, 2020

Going to make this a quick one. I mentioned yesterday weather would have more influence on the market, and I believe it has. NG prices appear to be swaying with the forecast updates. The ECM this morning around 3 am Eastern about as bearish as it gets from one forecast to the next.

NG1 on 2hr chart at

It appears prices are at a testing point yet again. NG pricing continues to fail in this area. Even with a fall from here, we have had equally terrible fundamentals up to this point and the even cash looking horrible. It begs the question, why didn’t prices already fall to $2. I will add another 10% of UNG on any dip I see below $16.3 today.

So there it is. I added only 10% at $16.3, because I thought prices would fall further. That still stands, I’ve been centering my layers around 20% block of my funds. Then of course I change my mind and get greedy with 10%. I’m doing my best to be patient. This is fairly slow for the Natgas market in winter. I’ll place only 20% of my position (10% of funds) for sale today at $16.95. Don’t forget the EIA report at 10:30am Eastern time. The website automatically refreshes at that time with new data. If there is a drastic drop or rise before the report, I will make a more drastic move, otherwise I will wait until after the EIA report to make any moves. Trades should always be posted to Twitter. This market has been pretty slow to do much of anything, I should not get in any hurry to mess up my account. Good luck


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