First up, I’m reducing the 5% of UNG that I bought yesterday, right now at $14.86. I’m now down to 30% holdings of UNG again. I’m getting this out there, I will post more later. I’ll continue to hold 30% into the weekend unless Natgas pricing shoots above $2
Gotta keep it short. EIA report is today at 10:30 est. Weather sucks, what else is new 😛 Production still stalling from what I can tell. ZM didn’t respond to a good earnings like I had expected. Leads me to believe someone manipulated that or quants were ignoring earnings.
Coronavirus news seems to be fading some, though the virus is ramping up on spreading globally. Italy has shut down all school systems for 2 weeks. There are still plenty of surprises with this. Fundamentally, natgas keeps shifting more bullish each week.
I’ll be reducing today. I have a limit order to sell my UNG position down to 50% holdings at $15.06. I will be on this at 10:30 est. If the market jumps and UNG gets close to $15, but doesn’t look like it’s going to get to my target, I will not wait and sell then. If the market goes on up from there, that’s what the 50% position has been for this whole time. I’m thinking I will reduce from my current 75% holdings down to approximately 70% holdings before the report this morning. NG continues to drift sidways, I want to take a little off while that layer is at a profit. I”ll just go ahead and do that now. I”m down to 70% holdings, with a new average of $15.06. I’m placing my limit to sell down to 50% at $15.06 now. Good luck