Morning Thoughts – Oldinvestor

I have little to say today. I’m sorry for that.

Looking back, had I held UNG, I would have hit my break-even and reduced and be layering back in. UNG really is a better tool for me personally than UNL. UNL is so slow and the liquidity sucks, so it doesn’t really move with NG as well as I’d like. It’s like there are 10 market makers with terrible bid/ask offers and a real trade comes along 3 times a day…. I think some days all the trade volume is by 1 person and 1 market maker.

I’m tempted to switch back to UNG, but this would be a mistake. I still believe there is the slight possibility that South Central storage gets flooded with gas to the point it won’t get filled to the top, but it will cause market chaos to prevent getting filled to the top.

Nothing for me has changed this week. I’m still waiting. I should be excited, because the market is building and preparing to change how things are done, but it’s slow from my perspective.

My positions

UNL – 80% of my max comfort with an average of $7.4 – waiting to see if it takes a shot at $7 or goes back to $9-$10

BOIL and KOLD – 1 covered put with each.

BOIL and KOLD covered puts as of close 7/14/20

Things are just slow right now. Find something new to learn. I’m learning about wiring harness connectors because I want to build a harness that I can sell to someone for their old car/truck that requires not electrical knowledge and not cutting/stripping/crimping required. I even had the domain, ExactHarness.com. The site is not hosted yet; I’m still learning and don’t have anything to offer yet. as for Natgas, I’m waiting. Good Luck

Oldinvestor