Morning Thoughts – Oldinvestor

Did I mention natgas production has increased? Or overall supply has increased; most of this may be from Canada. Hmmm. Powerburn is looking good and the weather forecast is looking good; I think this offsets the bearish mood of any current supply increases.

My long-term outlook is still unchanged, hold UNL with 50% of my funds for possible long term increases in NG prices along the curve. Buy UNG soon if the price dips. Keep an eye on south central storage; if anything threatens NG pricing, south central storage could.

As for today, I’ve not been in tune quite as well as I should be, but I don’t feel the market picking a direction. Range bound trades could be good here, with respect that anything could happen. I will hold where I am and hope for a dip to buy some UNG. Producers may actually wait for winter to increase output. I still believe there is a bit of room for production to increase. At least in Texas and the Gulf. This would at least help prices stay in the range they currently are since storage will be on the decline during winter. Texas may still be over a barrel (of oil).

My positions

UNL – 50% invested with an average of $7.4

BOIL covered puts

BOIL covered puts as of market close 8/11/20
BOIL/KOLD – P/L as of market close 8/11/20

I know I haven’t had much to add lately. I’ve been busy, and I think it’s a good time to be distracted as to not take on trades that will get me into trouble. I am watching and waiting for another entry. Good Luck