Here were the API numbers for week ending 7/31:
API reported a decrease by 2.4 million barrels.
Platts forecasted 1.6 million barrels.
I'll "attempt" to do a quick in and out trade on U this morning with low risk entry of 2.40 or BETTER. Should go up on EIA at 10:30A. Anyone selling the "POP" if it happens?
May buy a little and see from there.
Respectfully I disagree, yes it was stuck on 1.92 but did not sell off and plummet back down to 1.83 at the close. It held 1.92. Weak in definition doesnt mean not being able to break 1.92. Weak is closing at the PPS near the LOD of 1.83. Look at the chart every Thursday this month for DGAZ when it reports EIA... and Friday also. It's up on those days and a few times it even stretches to Monday. So yes, there is specific up and down days. But... I could be wrong... Just sayin' IMHO. GL
Lol, I hope your not on the wrong side of the trade but GL to you. UGAZ had a strong close today almost at the HOD and trading higher AH. Tuesday and Wednesday is usually UGAZ"s day... but I could be wrong as I have been wrong before. Again, GL to you!
Just be very careful at these very low PPS. An RS might be in the works. GL to all holding. Tomorrow is API day. Im curious to see what the numbers will be. Anyone holding UGAZ? I finally picked up my entire UGAZ position at 1.85. It should be up tomorrow and Wednesday if the pattern stays consistent and continues this week as it has for weeks now. I usually buy DGAZ Wednesday or early Thursday to trade the EIA report but the temp had been hitting the 90s here in NY/NJ and many other areas last week, so it's going to be a coin toss this Thursday.
Its been down Fri & Mon after report and starts the move up Tues & Wed. I bought 5k Friday and 10k today at 1.85. 15k strong and now we wait!!!
I would wait and buy into strength with UWTI. Right now, I would not touch it as it broke the 52wk low price of 1.52 Friday and had a very weak close. Regarding natty gas, I'll keep doing the DGAZ stop strategy every Thursday until the pattern changes. Using a stop right before the report comes out makes it a low risk/high reward trade. The day I get stopped out with DGAZ is the day I switch to UGAZ
I only bought 5k shares of UGAZ (1/3 of my position) at 1.85 at the close. I'll buy more Monday. I'll try to pick up the rest on Monday if it hits 1.80. If not, hey at least I got a little. I try to be patient with my trades. I feel that at 1.85, it makes it a low risk trade. I worry about everyone here holding UWTI as it may do an RS at these very low levels. This happens all the time with these type of stocks. They do an RS and plummets right down. GLTA
BT, IMO I believe UGAZ will be up early next week (around Tuesday) but will most likely drop by Thursday due to EIA report. At this time, you would wsnt to own DGAZ. This is a consistent pattern I have been following and confirmed since the beginning of this month. A delayed report gets published by market watch usually after it comes out but by then it's too late. What I do is buy DGAZ Wednesday or Thursday and since natty gas report comes out that Thursday at 10:30 AM, I place a stop at around 10:25 AM near to what the price is at that time but give it a little room so that I don't get stopped out if it drops a little. At this time though, surprisingly the price has been pretty stable with a narrow spread. Once 10:30 report comes out favorable to DGAZ, it goes up and I remove my stop and ride it till Friday or even monday where it goes up even more. If not so good, then it hits my stop so I risk very little. It's not fool proof but has worked for me week after week. GL
Lis, I just sold my DGAZ at 6.15 and have an order waiting to fill for UGAZ at 1.80. I'm not ready to buy UWTI just yet as its hovering right above the 52wk low. It looks like it could break it anytime JMHO.
$2 is good entry for UGAZ IMO. You want to own DGAZ on Thursdays though as EIA has shown oversupply since beginning this month. Its been consistent week after week. Basing on how UGAZ has been trading, I have a feeling UGAZ will touch 1.80s tomorrow but I could be wrong. I hope you do well on this trade this time around. Ill wait and see if it does drop to 1.80s and load up. GL
Yeah, missed the DGAZ ride this week. Looks like higher intraday low compared to last week. Could possibly hit 6 very soon. Had a chance to pick it up after hours in the 5.20s yesterday but hesitated. Fridays after the report have been up days for DGAZ also. So we'll see tomorrow. IMO, UGAZ will hit 1.80s tomorrow. I'll wait until that time. Are you picking up UGAZ?
Tough to say where UWTI is headed. Just can't get myself to jump in just yet because of 1 week of good report. 2 green candles with the higher close on the 2nd one is usually a bullish indicator and a sign or confirmation that a trend reversal may be happening. If I were to buy here at 1.70 or better, I would put a tight stop on the first green day's intraday low, which was I think 1.53 2 days ago.
I will try to pick up DGAZ tomorrow at low 5s or so before report. I have a feeling that they will manipulate and drop the price before 10:30 AM again as they have been doing every week.
I agree with you jak. Also, you have to take Iran into consideration. Even though UWTI dropped already due to deal agreement with US and other nations, I feel that there would be a round 2 with drop in PPS once members of Congress signs to finalize the deal in weeks to come. This would so to speak "seal the deal" so I'm not so sure whether the Iranian deal is really priced in on UWTI
I'd like to sell it today. I'm hoping 2.20 but may settle for less cause I want to own DGAZ going into EIA tomorrow. I have been noticing for weeks now that they seem to always run up UGAZ to 2.20/2.30 level before EIA causing DGAZ to drop into the 5.10s and when report comes out, goes to 5.70s by Friday/Monday