What the hell did you do to the market? Yes you… I’m only kidding. But for real, don’t act like you, a retail trader, can take on anyone of substantial size. First of all, even as a group, you don’t have enough collective monies to move billion dollar companies, without the help of some hidden fund managers amongst your ranks (or Elon Musk). Second, you’re just going to poke the bear and cause the SEC to develop even more ridiculous rules against retail traders. Maybe some rules need to change for shorting. I honestly don’t believe shorting is the problem. Computerized trading is a bigger problem. If the Exchanges were to regulate trades to take 10 seconds per trade or something… I don’t know. I know shorting brings liquidity to the market and that’s not a bad thing all the time. if it does cause a stock to fall, then maybe tighter restrictions. All I know is this week has shown me that the few are going to cause the many to lose after lunch recess if they don’t stop. Need to find another way. Maybe a march at the SEC building or something.
Enough of that.
Outside of EOG and SLB, two of my favorites, pissing me off, I’m pretty satisfied with my holdings. I did add 1 share to SLB yesterday. So I’m holding 2 SLB and 2 EOG *rolling eyes*.
As for Natgas, I’m holding my 50 long UNL and short 10 UNG still. I like this slightly long biased position still, with more emphasis on UNL being invested across all of 2021 contracts, and UNG being focused on prompt contracts. As long as storage remains a surplus to the 5 year average, this should continue to be a good trade.
It doesn’t appear to be much in the way of decay happening yet, but this also isn’t much contango in natgas contracts right now. It will be interesting to see if I come out ahead in a few months on this. Well it’s boring friday and I have nothing left and a lot of shit to catch up on at work. Good Luck