so people stop lying. There is constant effort to keep ung price down.
wont stay down for very long. Lets all watch what happens tomorrow afternoon. Could be $10+, I hope I am right this time.
If i had to put in percent terms what I care about UNG price vs Natural Gas prices it would be 1% UNG and 99% Natural Gas.
My interest lies in a close in Jan contract above 5.32.
Also to answer your other question on why I didnt completely step off to the sideline it is quite simply. I have a hard time keeping something in focus or on my radar if I have nothing in the game.
I forget which post but I posted it in the past two weeks indicated that I had my portfolio in 90% cash. UNG represented at that time I think 1%, after cashing out some puts it dropped below 1% of my portfolio and is in January strikes.
By at least having some positions it keeps it on my "screen" and when price action gets interesting I start to relook at positions.
I have had side posts with Income, Dustin and others where I have moved my focus primarily to SPY and GE. I have some money in MELA and two other names and am interested in TBT and JPM also.
However for all intents and purposes UNG is <1% of my current portfolio and is all in January option positions that I will probably use to trade Dec option expirations.
So you do think we could see $10 before the close tomorrow but NOT before the close today.
Good to know. Our thoughts are close, but I'm more 50/50 on the $10 today with people placing on overnight speculation.
Everything past the $10 comment was blah. All of that is there to say, you made a bunch of money thus far, ask risk increases one would think you would move your attention to other areas and get on the sideline. You were part of the EASY money. I just can't figure out why you are still here when you got what most people pray for.
The post was dated 12/10/09, I am saying UNG wont close ABOVE $10 today.
For awhile now I posted my probabilities and I have been saying the upper end of my most probable NG was 5.20 well on a month ago, it has held up super well and in the past week or so I bumped it up to 5.20-5.32.
I have said all winter for months now that $6 NG in prompt contract is a major major resistance.
I have also said last week and part of the week prior to last week I wouldnt be adding to positions simply liquidating them when I deem it is best. The only positions that have "capital value" in them on my books are my Jan $5 puts and the 10-11 vertical call spread I own in Jan valued at a cost of $0.38.
All of my Jan 7's and Jan 8's were at zero cost due to prior profits in the original core positions.
I had at least two posts a week or so ago saying I had dumped a lot of my positions. I didnt "come out" and say hey its the bottom but if you see a noted bear unloading significant portions of his short positions (put options in my case) then gee maybe it is a sign that he feels the easy money is over.
I havent sold my 10-11 vertical call spread as if we break resistance and the weather keeps up we have a shot of near $6 NG. Then I will unload my 10 calls and either go naked short the 11 calls or enter into a 11-12 bear call spread. Also at $6 NG or around there I will probably rebuild my put options depending on when we arrive, what the options values are and what months I want to purchase.
Wolf you have spent months talking about UNG going lower before it happend. If he wants to talk about it going to $10 before it happens you, of all people, shouldn't criticize him.
But lets make sure we know where you are wold because people always accuse you of being shady in changing your posision. You are taking the position that we will not see $10 before the close tomorrow? I just want to make sure no one misunderstands your position.
longs invested for 2+ years and still lost hard working life savings....
how come your guys still hold this pig sinking ship......
plenty of stocks for you to invest do not lose you chance and time otherwise you will be a long term losers........
short this pig to the ground......
longs need to cut and lose in order to earn huge profits......
do not fall in love with a stock because you are not the ceo and run the company.....
ho ho ho ho ho
ha ha ha ha ha
he he he he he
no kidding, if the data out are so much lower than estimated, possible to kiss $10. otherwise, $10 is a bit too optimistic. i am looking for $50c up with so-so report. reasonable?
day-trade this junk!
10x strong buy today adn 1000x strong sell for the last whole year:-) fair? I think so!