Pa..........Bought on Tues. @ 8.44. Sold those on Thurs. @ 9.18.
Bought back on Friday @ 7.40 and more @ 7.31. Still holding those shares. Here in GB temps not really dropping until about Dec. 29 when it'll cool off about 20 degrees. Next few days temps in the high 30s here. UGAZ traders always looking out a week - 14 days.
These types of ETFs (or ETNs) aren't buy and hold investments. Use them for short term speculation and be prepared to take losses quickly if you are wrong. Go into it with a pre-determined stop loss either in place or mentally established.
Kel........................(much experience in Ultra RTFs for natgas, gold, silver Russell, S&P 500, etc.....just took a small loss with a one day trade in SPXS at Friday's close)
Green Bay, WI....Jan. 1st forecast ......low -4 / high +8.....right now + 24 F..........be patient...........Kel
Bought one of AF's 2014 biggest mistakes for a New Year tax loss bounce play......EXEL......He was dead wrong and it crashed. In @ 1.34.
Point 2 gets my primary vote. Besides the cuts in CAPEX, there's also all the currently producing wells, some of which are currently unprofitable, maybe even on a cash flow (vs earnings) basis. Makes no sense to keep operating these wells. Might as well shut them in until much higher prices return.
This will have a more immediate affect on supply. Also the often forgotten decline rates. This will have a "natural" effect on production if that production isn't replaced.
Kel...............holding MEMP, LNCO, and CHK + trading UGAZ
High was about 30 F on Friday in Green Bay. Warmer weather coming until about the 30th, when it'll cool off quite a bit (from 14 day forecast). I bought UGAZ twice on Friday....@ 7.40 and @ 7.33.
Added more UGAZ late in the day @ 7.31. Earlier buy @ 7.40. Why play the equities? Go for the raw meat. SCO to bet oil down. DGZ to bet natgas down. UGAZ to bet Natgas up.
Everyone have a great weekend......................Kel
Holding some too, but much less than your position. What do you think it would take to get it below $10? I think likely something very damaging to the stock like a significant distribution cut or MUCH lower oil and/or Natgas prices. I think with their very strong hedging program that MEMP has stronger resistance to falling energy prices than many other producers.
Just my opinion...............Kel
Been here before. In @ 1.34. Good tax loss rebound candidate. Will look for a bounce after Jan. 1st. Also bought MSTX and OXGN. All biotechs near 52 week lows w/ enough cash to not be an immediate concern.
Natgas is having a very rough day. Cold weather will return.
Kel..................holding CHK and just bought UGAZ @ 7.40.
Weather comments.........Here in Green Bay winter hasn't hit hard yet. Temps today in the mid 20s F. The 14 day forecast shows mild weather until almost the year end when the lows will be in the 0 - 10 area and highs of 15-20 F.
A real cold spell is when we get several days in a row where the highs for the day are +5 or lower. At extremes we can get several days in a row where the temp never gets above 0 F (even in the daytime). The good side of that is that it doesn't snow much when it gets to the very cold levels and the sun will shine.
We don't normally get the big snow storms here like Buffalo. They get "lake effect" snow from L. Erie. The UP (Upper Michigan) has some areas that get the same effect from L. Superior. Right now we only have a trace of snow on the ground with a little in the forecast for next week.
Remember just a few days ago.....Russia was collapsing. Our markets were tumbling. Oil was crashing........And now everything is hunky-dorry? A little hard to believe. Like you said in my thread. The Wall Street talking heads are all bullish now. They need you, me, and all the other small guys to buy from them.
I'm also about 58% in cash.
Good luck with your short..............Kel
Suspend the dist for one year and state that as the intention.
Use those funds to make lowball producing property purchases. There are numerous other companies out there that are or will be desperate to sell developed properties. Cash (not yield) will be king in this environment. Can you imagine picking up several $100 million of producing properties at firesale prices?
Kel............a holder of MEMP
They expect deal to close by 12-31-14. They put down a 5% deposit for the deal....around $265 million, which they "could" lose if the deal doesn't close by 3-31-15.
SWN is doing a bridge loan with Bank of America / Merrill Lynch for $5.0 billion. After the deal is completed, they will at some point in 2015 seek to turn that bridge loan into permanent financing.
My bad.....Dimes are .07234 oz. pure silver. (not .7234)
War nickels are .05626 oz. pure silver (not .5626)
Forgot the "zero" after the decimal point on both.