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United States Natural Gas Message Board

  • nasdaqrollover nasdaqrollover Sep 4, 2009 4:09 PM Flag

    WHY DID UNG HOLD UP SO WELL YESTERDAY

    aftrnoon, most were supprised that UNG didn't trade way below $9 yesterday. Professional Traderes that trade NG were in there buying heavily around $9.10, they knew full well that NG would be run up higher today. This is how it works, only if WE knew.

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    • If you recall, the news Thursday was not all that bad. NG tanked despite the news being relatively tame, suggesting an act of capitulation. All of the fears regarding the natural gas bear market came to surface, and so sell off happened despite tame news. Then, smart money moves in and collects the shares of the scared sheep who sold, and now the rally begins. The shots now covering, the weak hands are going to be jumping back in after missing a 10 to 20% rebound. Then the days start getting shorter, and temp cooler, and guess what, Nat Gas prices go higher.
      Stay long and strong!

 
UNG
26.30+1.07(+4.24%)Apr 17 4:00 PMEDT

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