Today has not be kind to me time wise. I’m in the middle of a project and not much time left for Natgas. I’m still holding steady with 50% on my funds in UNG. Big decision time. NG prices are at fresh lows, should I add to my position?
Looking at the weekly chart, something I don’t do much because I never liked holding UGAZ for very long at one time, UNG is at a solid lows. The problem wit this UNG trade, I’ve not traded much around my core position. Mainly because I had planned on holding UNG through a larger swing up and trading UGAZ more short term. Since I’m not buying UGAZ, I may need to layer out of UNG a little one the bounces, even if it doesn’t pay as well as I was expecting. Caution is still the focus here no matter what I do. Oil continues to fall and that is not helpful presently, but will help out in the long run. When Oil prices fall, oil production will taper off some, allowing associated gas production to decline as well. That’s more a part of this strategy than I was hoping for.
$1.72 for NGJ20 is not significant to me. Today’s fall is are larger move for one day, that’s what makes this tempting. I’m going to stay cautious here and wait one more day to add to UNG. Markets are falling, it is hard to gauge whether fear of a pandemic is worsening or not. I’m sure for many, it changes hourly. My paranoid self tells me I better wait. There is too much risk of more panic in everything right now to be taking a chance here. I should have more time tomorrow to focus on everything. For now I’ll be waiting. I think I repeated that a couple times now. waiting waiting waiting waiting waiting.. There…. Good Luck
Sorry for taking forever to post today. I certainly cannot become a regular practice.
Oh, and take a look at ZM (Zoom Video Conferencing). That seems to be a good choice right now. People can’t fly to meet with each other, so they should be video doing a lot more video conferencing.