I’m reducing half of my UNG holdings now at $9.57. So I’ll take a roughly $15 loss on those 45 shares. That is a fair loss of about 0.6% of the account value. Weather is flipping back and for a bit. the important part is the 11-15 day is weakening.
I’m still holding all of my UNL and half of UNG. I heard something about Cameron LNG export facility had some kind of outage. They were reported to be starting right back up. Hopefully just something simple and it will not happen again. LNG is still in great shape with Europe and Asian pricing quite high.
All that is needed is for weather to stay close to average, so demand will use up the surplus of gas. Same old story.
As to why I’m reducing… Pricing is still bouncing back and forth without an up trend to it. The market is not sure, and my position is much too large to ride this down again.
I will be placing the same stop on UNG at $9.35 again today on the last 45 share I am holding. If prices break below that, I’m taking it as a sign the market is moving lower. Good Luck