I’m sorry I haven’t posted today until now. I’ve been pretty scatter-brained with work. The virus is adding a workload to me that I cannot possibly keep up with. I’ll do what I can. I caught a glimpse of the market. I think the S&P is going down again soon, maybe before the week is up. I don’t know that the VIX will make another horrendous run up because major money has already be stopped out or changed directions enough that the biggest panic moves have been made. The S&P can still find new lows, just at a calmer pace.
How does this relate to Gas. I think I’ve been missing out on some awesome moves in gas because of all the distraction elsewhere in other markets. I am still holding my same positions; 44% in UNG, and 15% in USO.
Not much has changed for Natgas fundamentals. Production has been holding, I know rig counts have fallen for oil in a big way. I haven’t even looked at dry gas rig counts, certain they are falling. I’m not so interested in rig counts since this is more forward thinking that my typical strategy.
I’m probably not allowed to say anything about my company, but… If a group of Germans were in an American manufacturing plant, like say… a tire company has bought some tire making equipment from Germany and they also handle the install. That German equipment company may be telling the American company they can’t finish an install or do the finalized testing because they need their people back to come home and be with their families. This type of scenario might be something to think about on a large scale. Hampered progress.
Anyway, I’m glad to have my day job and hope this is over soon enough we all get back to something a little more normal soon.
I’ll keep holding my positions where they are, waiting for a drastic move. good luck