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ProShares Ultra Bloomberg Natural Gas (BOIL)

NYSEArca - NYSEArca Delayed Price. Currency in USD
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28.03-0.57 (-1.99%)
At close: 4:00PM EDT
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  • a
    abyssus abyssum invocat
    Almost got to the $3.16 14ma, then bounced back above the $3.23 8ma.

    Considering how these MA are rising, will likely see Monday if this typical June retest can get to the $3.01 50ma.

    Seems possible the market will consolidate in the low $3s while it waits to see the real impact of the TETCO pipeline constraint, either as further info from the company or actual reduced flow. Worse case appears to be storage getting to an extreme low prior to heating season, but the market has plenty of time to price that in.

    Regardless of that, forecast GWDD is above average and it is hurricane season, the usual Summer rally triggers.

    So expecting to see a rangebound trade in the low to mid $3s for the summer rally, then the potential for some pretty wild in Sept-Nov timeframe.
  • a
    abyssus abyssum invocat
    Although the past few days were about opex, it does seem like a nice setup for a pre earnings retest.

    Market has rallied into several earnings seasons, only to sell the news, so now maybe it sells the rumor.

    In any case, it appears we are well past peak liquidity and that inflation is prompting the Fed and other Central Banksters to pull back.

    That of course has all commodities retesting and that could go on for a while. NG so far of course showing relative strength and see no reason why that won't continue for some time to come. Oil and producers could use a retest but they too seem set for supply driven rallies.

    The Central Banksters can either liquify all markets and live with inflation or face deflation. They broke it, they bought it.
  • a
    abyssus abyssum invocat
    Another day on the 8ma, in the $3.19 to $3.28 s/r lines.

    Suspect the Hedge Fund algos are not done trying to get the lowest price for the summer rally, and would get more long outside of the current range. Also, many tops have a few days lingering around the 8ma or 14ma before getting serious with the retest.

    Obviously, if TETCO reduces the impact of their pipeline issue then that makes it easier to have a typical late June retest, but it is also hurrican season and supply/demand would be tight even without the pipeline reduction.

    If the price ultimately can't get below $3 or even $3.19 then that is a sign of potential upside as demand strengthens in the summer. Always good not to get too bullish, until the trend is clearly justifying it, but the fundamentals do look increasingly bullish.

    So the price could go down but they might go up.
  • a
    abyssus abyssum invocat
    Dollar strength starting to hit commodities, plus China is going after some of them by selling strategic reserves.

    Might see Gold retest the prior low, which at the time I thought could be extended to $1600 so maybe now is the chance to do that.

    This of course triggers MMT Drinking Game Rule #3.
  • a
    abyssus abyssum invocat
    Welcome to the $kold recovery group.

    Please use a Kold bagholders Mom to show us the special place where Kold touched you.
  • m
    michael
    I use to make love to by wife after I had my coffee in the morning now I just do myself by added more shares of KOLD to my portfolio.
  • T
    Thomas
    to tell the whole story-- I have shifted about half of my trading holdings into MRNA and BNTX trading. BOIL and KOLD have been not so much profitable trade, compared to UGAZ and DGAZ. however, I keep trading BOIL and KOLD every day, dont get me wrong. those 2-8% swings are still worth it...
    but the expectations and the trading rules have changed.
  • a
    abyssus abyssum invocat
    $4.24 would be $46 in Boilbucks, or $11 in $kold bucks (for those who prefer to lose money).
  • m
    michael
    Getting a little overbought here. Time to move onto the boat and party. Hats off to the bulls today.
    As always have a safe week and GLTA
    Its MILLER TIME.
  • m
    michael
    GM all. This is my last buy in, for KOLD. Now time to take losses and enjoy the summer. GLTA
  • m
    michael
    Took some profits in KOLD, gold and silver miners this morning. This is the fight back that I was expecting. MM will make there big move Sunday night (IMO). Raising cash position for next week. I do not not know which way they will send this. Today may just be a setup for a correction next week.
  • J
    JosephM
    back to 1000$!
  • m
    michael
    Professor Thomas. I kind of like the sound of that. What say you?
    Although, that does mean he will be limited to the severity and the amount of belittling those who disagree with his outlook.
    That kind takes the fun out of it.
  • T
    Thomas
    will monday have a usual NG drop by 3%?
  • m
    michael
    Well I tied the KOLD way to trade this and did not do so well. Added again today, but losing interest quickly. Let see what happens tomorrow and see if supply and demand still means anything. It maybe time to dump coin as well.
  • T
    Tom
    Just bought another 500 shares we are going to be looking at you shortages as we approach the summer months there will never be enough going into storage we’re way behind a ready less supply more demand
  • a
    abyssus abyssum invocat
    As it is the Second day of Rollover, time for some roasted marshmallows and $kold fried permabear flesh!
  • m
    michael
    Look, look hard at the very end of the long dark deep tunnel that they call KOLD, Can you see lads? There's a very small glow. A lost soul maybe, that is showing us that there may be light at the end of the $%#& tunnel.
  • M
    Michael and Carrie
    By this Sunday the temp here will be 30 degrees cooler than it was last Sunday.
  • m
    michael
    Px Don't get me wrong I like you. But there has been an inverse correlation with the price of Nat. gas and you comments. But maybe that has change hope everything is well with you. Good to see you again.