Last few days natural gas has been a rocket.... Literally no downside...just a straight vertical rise. . Everyone is seeing their utilities double. With NG skyrocketing looks like the consumer is going to be hit with yet another inflationary cost. Uh ohhh. Not looking good as people will be paying more and more.... So anyone here shorting this vertical straight the fu*k up rally in natural gas???
You must have been doing counter trend trading. Last 2 days, there were mainly trading opportunities to take long positions for day trading. The big boys were very excited to push the price up. Up it goes to the moon and beyond. Day traders (and many Americans) simply like President Trump. The profit from day trading should be more than enough to cover the inflation cost.
Took my system dozen tries to find bottom, have added on few times, no way getting out. Check monthly charts for last 9 years.
Where do you see resistance and support now that its over $4 A few weeks back it ran hard and fell pretty hard back to nearly 3, losing almost a third of its value.
Out of the millions of people feeling inflation, i highly doubt, but maybe a few handful are daytrading to cover the daily rise in the price of red raspberry jam !!!
I did about an hour ago. I don't care too much though, just another trade. Targetting $1500-$2000 on 4 contracts. No biggie.
The recent high was $10 ( 3 years ago). Let's hope the volatility continues to be great. The higher the better.
cold fronts again, at least i felt it is the longer cold winter this year, almost the end of march and still below zero. short may contracts, probably but i don't do ng, only cl.
Yea it ran up to 10 a collapsed back below 2. It's funny everytime ng is trending higher they say we are short supplies and cold weather this and cold weather that...then it tanks and everyone screams we have enough ng supply ton weather any Antarctica cold. It's nothing but a game. If ng gets to 5 6 7 or 8 there will be crazy inflation to consumers once again .
Most of the commodities could be stored relatively cheaply and easily. eg corn, crude oil, oranges .... Storing NG needs $$$$$ and tons of safety features. So supply vs demand can change massively resulting in huge volatility.