Baked, I see that NG has come in line with what it should be, finally... but the storage report this week is supposed to show a draw over over 200, which leads me to believe that DGAZ is topped out for the time being, and we should see a slight pop on the cold weather for 2 weeks and the storage report. I am strongly considering buying a small lot of UGAZ right now. thoughts. ?
I was going to post that this morning but got involved with other stuff. It did have a slight pop today (UGAZ), but they sold right into it. You could try to play long for a short term pop, but, winter is mostly behind us, and February is predicted to be warm for first two weeks, so that leaves a very small window of opportunity. Traders may be looking forward to end of winter and lower prices. I don't think I would buy it here. You missed your chance this morning, but you would have had to be pretty nimble. Instead, I would wait, and if there is a pop, sell into it, as we know prices will fall into March. They seem to be selling any pop, as I would. If UGAZ goes below 17 in the next week or two, you might have a play there for a week or so. Storage report is not nearly as important as weather. I am looking for UGAZ to hit 15 or less in March, so am looking to short any price rise.