I log into my account and see this
So Direxion is deleveraging 10 funds from 3X to 2X. This is the list
UNG and USO aren’t even leveraged and UGAZ/DGAZ are not on the list. This is still a good thing to know for anyone focused on ETFs.
As for Natgas, I’m kinda flying blind right now. I don’t have any morning data, but if there were anything to know, it would be easily searchable. I’ve been incredibly busy with work, and incredibly frustrated with humans. These people I work around are not distancing themselves at all. In fact, I go to work on something and there are like 15 people in that one area, and at least 5 of them are standing around talking, it is so frustrating. Did they not get the memo that people that have been working in that are are at home with potential COVID19 sickness. And further, people can be asymptomatic. Meaning they are carrying this virus and they do not know it. I am not so worried about my own health, but this mess is not getting better for this very reason. It is our individual responsibility to distance ourselves. Governments say you should social distance, and the public chooses to for 10 mins and they are back on the streets, and at work humping each others’ leg. Like a dog, that will hump your leg and you cannot get rid of them…
Anyway, I am a little bit tempted to buy some more UNG, but I feel that is rushed, so I will wait.
Still holding 50% of funds in UNG with average of $13.66
Still holding 10% of funds in USO with an average of $5.05
Both of these are at the lower end of their ranges, but I have had such little time to observe anything, I feel I should not be in the market at all. I only see that oil spot prices are falling very hard, everyone i still talking about stripper wells. Stripper well declines will not help gas at all. I continue to hold UNG because any real decline that may show up in production, prices will respond quickly. With oil, I have no home and should not be in USO. I am because the prices is so cheap, that many companies, states, and countries will start making very big adjustments to counter this major problem in oil. If demand will stay this low for another month or so, we may just get enough production crushed that when demand comes back online, it will swing oil prices wildly and I will get $6 for USO to sell.
That is all for today. I’m not sorry for ranting about the virus and these complacent human beings. Please take this seriously, not for yourself, for all the people you will be indirectly responsible for dying if you do not take it seriously. We are all responsible. I sound like my father… Good Luck