Quickly. I’m still waiting. Oil and gas are both still creating new lows. I’ve got a lot of work ahead of me today.
UNG – 31% invested with average of $13.41
USO – 5% invested with average of $5.03
I’m not yet interested in adding to my UNG or USO position yet. Both markets are still seeing demand destruction without the cut backs in production that will eventually show up. Production will have a lagging effect, both when decreasing and increasing. I am interested in some options trades now. I’m still working on that. I’ve sold covered calls, now to make a decision as to what to do next. I’ll post any updates here. Holding for now. Good Luck
I decided to go ahead with adding 5% to my UNG position at $12.22. I can’t help but feel I’m early on this trade, but we shall see.