Total chaos this morning (at my day job that is). My UNG average is now $15.58 with 95% of funds invested. I’m also holding UGAZ with 5% at $46.75. I do not plan to trade today. I cannot see UNG getting back to $15.58 today, and if prices fall, I will make a decision later today.
I’m beginning to believe this market is scared the LNG market is flooded and this could have further (major) negative effects on the price of natgas. A search for LNG on google is bringing up far too many articles to read through every day. Here is one worth taking a look at.
I cannot say what will happen today. The EIA report was slightly bullish, and prices fell. That gives me the impression today is not going to be an up day. I have started on a plan to convert UNG to UGAZ slowly, as prices fall further. I have almost completed Part 3 of my UGAZ short “research”… Haha; He said research. I’m hoping for a boring Friday here. I will be keeping an eye on things randomly today and will post to Twitter if I make a move. Good Luck