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United States Natural Gas Message Board

  • johndewcisco johndewcisco May 16, 2012 4:33 PM Flag

    am I the only one adding to my short position?

    who else is adding?

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    • I'm not adding to mine. Mine was well measured from the start. No need to alter my position just because the market moved against me temporarily.

      I will continue to hold the position all year.

    • I'm going to bet my whole life, house, family and friends that natural gas futures are going to fall.

      Over the last month or two I have lost my house, car, bank account and kids, but I believe you. Let's roll?

      Everything you have told me has gone straight down, but I'm into it. I just have to hear one more thing that will send me over the top.


      Nice that was sweet.

      I'm going to pawn the piece of toast my kid had in her mouth. Only said: UNG GOING DOWN!

      Oh, that's so sweet.

      We are going to make so much money.


      UNG just went up 12%. What's up with that dud?

      Do you have some toast dud? My little Jen is crying for toast, dud.

      My daddy told me you should not play in your pants so much.

      He told me if you read books more you will not have to scare little girls.

      I'm afraid of you. Why don't you just make money like daddy does?

      They will be just okay, love.

      Why don't they listen to you Daddy?

      Some people just can't see, my love.

      Why can't they see Daddy?

      Sometimes the sky is hidden by the trees.

    • Hello John, i am still adding and bought more DGAZ today, i have enough KOLD, also rollover expires this week, so i am expecting one of two things a strong short squeeze or a selloff, and checkout these charts for the slow, fast stoch, a double top just like last year in June and the RSI level hitting close to 70, i didnt expect a strong run but the bulls did do a great job, good luck, Fred

    • Just curious...

      What's your reason for adding to your short position?

      How long are you planning to hold your short positiion?

      Do you think NG prices will make a new low or do you believe that we're experiencing a reversal?

      Do you think this current rally is sustainable given the fact that it's lasted 4 weeks and risen over 30%?

      • 1 Reply to rkmandalay
      • There has been a great signal that NG futures will begin to descend ... The signal you ask--well, I closed my short position.

        Closed it yesterday and today. I foolishly was married to it despite the screaming signs that the crowd was going to move it higher. I am contemplating buying the weekly 18 strike puts tomorrow for one last stab at it, but am just happy to be away from the table.

        I seriously believe there is going to be a greater than expected build tomorrow, however, between now and report time UNG could be up another 50 cents. But, unless it's a real blow out, I don't think it will matter.

        The NG producers are no different than OPEC, If they want a certain price, they will make it happen. Congrats to the shorts that switched positions one or more weeks ago.

        As a short it bothered me to see the spot price up 12 cents in one day to 2.50 (today!) It bothered me that the UNG roll to the July month is only costing an extra 7 cents, whereas it use to cost 10-12 or more cents. It bothered me to see obvious signs of large players propping up the near future, which in turn moved the spot.

        The only thing I think going for the shortside is the mild weather and possible mild summer. If the switch from coal to gas is already having an impact on demand, imagine if (or when) the mild weather goes away. The price of coal should create the top. But let's face it, the headlines are already changing from "OMFG storage is running out!" to "unprecedented utility demand and production cuts are freeing up storage!"

        I wish you all the best, I may begin selling out of the money puts on UNG, or sit out completely, or as stated above take one last stab at being short by buying the 18strike puts before tomorrows report.

        But like I said, me closing my short may have signaled the top! Best of luck, emailbot

    • I shorted more, but with a lot of anxiety and frustration. Even if this is a reversal and not just a retracement, I would expect a correction to take place soon given that this rally has lasted 4 weeks and has risen over 30%. I thought that at this point, the buying would have been exhausted as NG futures are short-term overbought and would need to decline to attract sideline investors, but we just cleared the $2.60 mark on the NG futures without any regard for the heavy resistance $2.50 area. However, volume was not as strong as last week when we passed the $2.4 mark, so we'll see if $2.6 and even $2.5 will hold. I believe and am hoping that what we saw today was a capitulation short squeeze as it has been pretty painful to be a short the past 4 weeks and they probably threw in the towel today (as I was thinking about throwing in the towel myself), or at least their stop losses were triggered, which would explain why we zoomed right past the $2.5 area. But this also means that we need to consolidate the $2.5 - $2.6 area before this rally continues any further if it still has legs. This also could have been attributable to a pump and dump job by the big boys before tomorrow's inventory report. JMO...

    • I've been trying to short this thing since 16.xx but for some reason, my web broker keeps rejecting my short.

      I presume its because too many guys were shorting this and there were no shares to borrow for me to short...

      ...and thankfully so I might add.

8.17+0.15(+1.84%)Jun 27 4:00 PMEDT