Page 1 of 5 123 ... LastLast
Results 1 to 10 of 48

Thread: Natural Gas ready to Move Up?

  1. #1

    Join Date
    Dec 2007
    Posts
    906

    Default Natural Gas ready to Move Up?

    Natural gas (UNG) actually looks like it wants to go higher. Deep downtrend, but outside day last week on big volume with close to the upside,and today some follow through but now bumping against the 20-DMA. This sucker has been hammered.
    -- Tom | My Trades


  2.  
  3. #2

    Join Date
    Dec 2007
    Posts
    906

    Default Re: Natural Gas ready to Move Up?

    Natural Gas Rigs Shutting Means Prices May Double

    March 16 (Bloomberg) -- Natural gas drillers from Devon Energy Corp. to XTO Energy Inc. are idling rigs at the fastest pace since 2002, setting the stage for this year’s worst commodity to almost double as supplies drop faster than demand. More
    -- Tom | My Trades

  4.  
  5. #3
    alevin Guest
    AutoTracker

    Default Re: Natural Gas ready to Move Up?

    I was reading that today too, may take a harder look in the morning. Maybe still a bit early from other things I've been reading? The outside day signal tho is a weighty consideration in favor of jumping in tho. thanks for pointing that one out, Tom.

  6.  
  7. #4

    Join Date
    Jan 2009
    Location
    Upstate NY
    Posts
    142

    Default Re: Natural Gas ready to Move Up?

    Natural Gas historically tends to bottom towards the end of winter and I'm guessing it's a sell the news type event. Accumulate it steadily as the weather gets nicer.

    How about this as a play guys: PXJ Powershares Dynamic Oil and Gas Services.
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

  8.  
  9. #5

    Join Date
    Dec 2007
    Posts
    906

    Default Re: Natural Gas ready to Move Up?

    Quote Originally Posted by Bullitt View Post
    I'm guessing it's a sell the news type event.
    I was thinking the same thing. When's the last time you read a headline, invested based on it, and made money?
    -- Tom | My Trades

  10.  
  11. #6

    Join Date
    Feb 2009
    Posts
    654

    Default Re: Natural Gas ready to Move Up?

    Quote Originally Posted by Bullitt View Post
    Natural Gas historically tends to bottom towards the end of winter and I'm guessing it's a sell the news type event. Accumulate it steadily as the weather gets nicer.

    How about this as a play guys: PXJ Powershares Dynamic Oil and Gas Services.
    I am actually looking hard at PXJ, which should be scary to you because my buys are usually a contrarian indicator.

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

  12.  
  13. #7

    Join Date
    Jan 2009
    Location
    Upstate NY
    Posts
    142

    Default Re: Natural Gas ready to Move Up?

    Look at that, PXJ up some 30% since mid March. Just my luck, I didn't act on it and it's off to the races. It does look to be sitting on good support at 13.

    Any thoughts on UNG? I'm thinking that ETF will continue to get pounded as long as contango is an issue.
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

  14.  
  15. #8

    Join Date
    Feb 2009
    Posts
    654

    Default Re: Natural Gas ready to Move Up?

    I didn't end up buying it either. I lived in oil country for a lot of years. And the more I thought about it the more I decided the industry is too weird for me. Now I keep hearing that OIH is the next big thing. But I'm going to leave that one alone too. Contango is just one of many things that can go wrong in the oil industry.

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

  16.  
  17. #9
    alevin Guest
    AutoTracker

    Default Re: Natural Gas ready to Move Up?

    Quote Originally Posted by Bullitt View Post
    Any thoughts on UNG? I'm thinking that ETF will continue to get pounded as long as contango is an issue.
    Bullitt, IMO NatGas has a lot of variables at this point, huge world supply-LNG very nearly cheaper than domestic shale production at this point, despite tech developments here and huge new discoveries stateside-LNG coming in from overseas-to every port that will let the tankers come in.

    Believe me, we're dealing with the LNG tanker port issue here in the NW and it is probably coming, despite resistance. I think it's way more than contango looking out into the future. I keep looking at that UNG slide and the LNG competition is holding me back from jumping in the deep end, darn it.

    My ATN that I sold 2/3 of this past week is domestic oil and gas both but the volume this past week looked like serious manipulation, not to mention price topped out at the 200MA Friday and stopped. Glad I took some profits before the manipulators jerked the rug.


  18.  
  19. #10

    Join Date
    Jan 2009
    Location
    Upstate NY
    Posts
    142

    Default Re: Natural Gas ready to Move Up?

    Thanks for your thoughts, you two. I'm just trying to make some sense of UNG getting pummeled day after day. I mean, the story is there for gains, but we all know how 'story stocks' go.

    Lady, maybe you're not so contrarian as you think.
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

  20.  

Similar Threads

  1. New Natural Gas ETF
    By etftalk in forum Commodities
    Replies: 0
    Last Post: 12-03-2009, 06:20 PM
  2. What Drives Natural Gas Prices?
    By Bullitt in forum Commodities
    Replies: 0
    Last Post: 06-02-2009, 07:47 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •