Hey Ballhead, I'm going to be gone for a while. just a quick note on Natty.
I'm not sure what strategy you used but I'll share with something I did on Thursday past.
The Nat Gas position started to look shaky, so I employed something called a straddle position.
I was long the Nat Gas ETF, but I also went short its equivalent Nat Gas ETF at the same time. In my mind it is going to breakout one way or the other. I am protected until it breaks out. As soon as it breaks out, I eliminate the loosing position enjoying the ride on the winning position.
Just like the fact that I no longer try to catch falling knives, I now employ this straddle positioning on etf's giving access to the underlying. It helps tremendously in preserving capital until the dominate direction is established. As long as you're in the straddle, you're neutral. But take one side off then you make cash.
Thanks for the heads up, sounds like a good strategy. I am just holding long UNG and at this point will just hold. I am still trying to transition from more of a buy and hold type to trader and I don't feel nimble enough yet to do much more than hold here.
Just as an fyi, on the UNG board there was a good post this weekend. A guy name "ernieclark" seems pretty knowledgeable about energy sector fundamentals. I just bumped the post to the top of the list, it is called "Oil/Gas Ratio". Lot of crap on that board, so I am just passing along the one gem I found.
Losing the emotional market battle this morning so think I will turn off the computer and go for a bike ride. Thanks again for your update.