I wonder how that happened? Its a conspiracy right? The industrial demand is huge, no new mines. OMG!
You guys are a bunch of suckers, especially you perma-bear/bulls.
Anyone care to know where it goes from here?
sorry that was kind of harsh of me. anyhow i think its time to get long on UGAZ, hopefully you averaged down today.
LOL, seriously Duy? Seriously?
average down to 19s now. Now wonder you make 500% returns a year, you just make it up as you go along.
lolz, doubt it... 3.10 on NG is the pivot. We are currently at 3.145ish.
Im getting long on UGAZ when we hit 3.10. Play this beast both ways.
Here comes the pain for GLD... SLV follows... but silver bulls, just know that a decline in SLV/GLD over a short period usually is followed by a market correction... so get ready.
3.197 is the resistance. If it breaks over that and holds then I am out with a pretty big gain. If not then I should make even more profits as it hits 3.10.
I am in a small position in DGAZ right now... I will have my hand on the trigger to buy UGAZ or DGAZ depending on which way it goes. Based on charts and price action its right on support, if NG goes under 3.27 then im buying more DGAZ, a lot more. if it races over 3.31 then UGAZ or on the sidelines until Friday.
today NG hit resistance at 3.32 numerous times and was rejected. tmrw will be pop and hard drop. You should see NG at 3.10 in 10 trading days or less.
I wasnt able to help you out last night with my thoughts, but hopefully the UGAZ bet paid off. So this should be the last week of any good size draws. The premium right now is off the charts, basically the fair price vs reality of NG is placing it as overvalued.
That being said, I would cash out the UGAZ like 10 minutes before the report comes out tomorrow. I believe NG is going to see a really quick pop to take out some stops, then some dumping. I like to trade around the report so I am going to check the chartz again after close and place my bet.
More than likely I will be getting short on NG (buying DGAZ). That is the way I see it now. Good luck.
Wait Danny, I read that wrong... NG is selling at a premium currently, the fair price is 3.26, the actual price is 3.32... that is in future months contracts (March) so right now its still overvalued.
I am holding. I will maybe buy in AH or tomorrow AM before the report. I will come back here and tell you what i think is going to happen later today.
well in that case i think you are right. there should be a slight pop tmrw am. I might play it as well... buy UGAZ and hold until tmrw. The draw will be like 155.
More importantly the spread is now 6 cents. a 6 cent move is like 10% on UGAZ assuming it closes that gap.
Duy, why are you telling him that?
Hold UGAZ a leveraged ETF for nearly 6 months. Why would you do that? That is quite frankly for lack of a better/nicer word, stupid.
Danny get out of UGAZ, there is no good direction right now.