The four UGAZ Amigos. lol
I seriously doubt this one will ever see much daylight again. Remember, this ETN was selling for well over $200 a few years ago. Investments don't fall that far w/o a good reason. Blame it on El Nino and warm weather. Blame it on an over supply of ngas. Blame it on those shorting ngas. Blame it on the decay and high service charges. You can blame it on any number of things (which are all true and working against us) . . . . . . but I really don't believe it will ever see $3 again. Since my avg cost is right about there, I'll be losing money no matter how you look at it. But I'm a gambler so I'll continue trading UGAZ/DGAZ to minimize the loss while holding and watching it go to either $3 or $0.
Good luck Amigos!
I'm waiting for the price to hit $1.00 before buying more. With the rate of decay associated with this ETN it won't take long.
Still holding this POS. Haven't traded it in a few weeks. Same with DGAZ. I thought all the recent storms would have bumped it up. Guess it's going to take an act of God to move it.
The new mgr of the Edward Jones office in town came by the house yesterday to introduce himself. Told him I used to have with an acct back in the 90s with them and AG Edwards but now I'm with Schwab. He smiled and said "that's OK, I'd like a chance to earn your business". I told him I've been holding ngas for awhile and losing my butt. He looked at me kinda funny, then said "never mind", turned around, jumped in his BMW and left. Not sure what that means. lol
BTW Rob, I "almost " won the powerball a few weeks ago, but . . . . . .
We all know it's coming. What we don't know is the timing (when). That's why I said I was looking at DXD,SDS and other bear mkt ETFs.
Wish I'd had enuf confidence to buy when the Dow was down over 500 points. I'm only 31% in the mkt right now and 69 (I like that number) % in money mkt. Still time to buy if you're a good stock picker. I'm now looking at PPC, INVN, ZUMZ, AMKR and GLW.
I'm also ready to part with some money and buy some defensive stuff like SDS, DXD, SIJ, etc when the time comes. Maybe gold as well in the coming weeks or months when this rally fizzles. Unless we see a preponderance of bad news relative to corp earnings, I think we still have a ways to go. We could see close to 17,000 again before it quits (10%).
That's my story and I'm sticking with it.
Guess I was right for once. Selling climax occurred on when Dow dropped over 500. Could see more of this upturn next week. Ought to see around a 10% rise. After that, we could see it fall back down unless we get some really good news to prop up the markets.
Big storms been ripping through the country and ngas has barely moved. Inventories must really be high.
Fester, I already have 3 energy stocks (UPL, MRO and PBR) so I passed on buying back DVN. Started to buy AR yesterday but passed on it as I wanted to see if yesterday was actually market and Oil capitulation. Wish now I'd bought some AR and DVN for a trade.