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United States Natural Gas ETF Message Board

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  • fp718591 fp718591 May 16, 2012 5:16 PM Flag

    am I the only one adding to my short position?

    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, http://finance.yahoo.com/q/ta?s=UNG&t=1y&l=on&z=l&q=l&p=&a=fs%2Css%2Cr14&c= i didnt expect a strong run but the bulls did do a great job, good luck, Fred

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    • Hey Fred. Glad to hear that there are a few shorts still out there, although my confidence in my position is starting to dwindle. I agree with you that this thing is overbought as the indicators are saying.

      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?

      • 2 Replies to rkmandalay
      • Hello rkman, the bulls did run this one up nicely, regarding how long i hold my position is based on charts, thier will be a build in NG and hedge funds will start taking profit soon, so i am not worried, these strong runs can get scary but what goes up must come down especially when supply exceeds demand. Also keeping an eye on the gold bug index HUI is the index, looking to get into GDX or GDXJ soon since it looks like the bottom is in, good luck, Fred

      • What's your reason for adding to your short position?
        >dollar cost avg
        How long are you planning to hold your short positiion?
        >depends on NG price as time goes on (overall i don't think i'll have a short position in NG by end of 2013 most likely a long position only.)
        Do you think NG prices will make a new low or do you believe that we're experiencing a reversal?
        >who knows, but if NG hits new low's and I don't sell my dgaz. i'll make alot.
        Do you think this current rally is sustainable given the fact that it's lasted 4 weeks and risen over 30%?
        >my answer is biased since i have only a short position open.

        i'm glad you asked those questions, i'm going to try to offset my loss if this retracement turns out to be a short/long term reversal.

 
UNG
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