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United States Natural Gas Message Board

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  • do.john67 do.john67 Sep 4, 2009 8:10 AM Flag

    HELP: own 17000 shares at cost of $14, WHAT should I do??

    Be patient. I am long with my initial buy $13/share. Bought more as the 25% slide continued, and now own 5000 shares. I sold all at ~ 11/share, then repurchased in 9 to 10/share range. Very risky selling then repurchasing lower, for at this point, though still major downside risk, any turnaround will be abrupt and unforgiving to weak hands. If institutions start buying as some have suggested, then the smart money will be long, not short, and a rebound will happen, but unpredictable as to when. I suspect contango priced in at this point, and will always be some premium, so not reason to sell. I am a bit biased, cause I'm long and strong!

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