When looking at a daily chart of /NG, the last few days seem to have created a textbook bullish pennant. Trading range and volume seem to confirm this. How do others plan to play this?
I dont understand why today nat gas was up aprox 2.5%yet Boil looks like it will be pretty much flat. It should be up 5%.In the past month or so it has been tracking the daily move more regularly.
I hope. It does seem to be lagging behind Nat Gas today.
It will close very near to 2X the % price movement of NG
straddle the options, market watch reported today that NG is expected to average 2.45 for 2012 and 3.15 for 2013, so straddle some options on this since they have basiclly put in a low and a high for ya
When the /NG price rose above the high from yesterday on higher volume, I bought some UGAZ and got a nice gain by the close (23.70 - 25.57). Looking for NG to go to 2.70-2.80 during this run up. GLTA
I closed my position @ 8.35 that was a little too fast and furious especially when 2.4 is the 2012 estimate. I am going to do another slow build at this point.