No, I did not take this trade. I just thought I would post some levels so you guys could understand that it will probably pull back and not to buy in that area and instead wait to get in at lower prices. It stopped to my level constructed 2 weeks in advance off a daily chart to the exact tick in an explosion to the upside ... damn right I will pat myself on the back.
Amaranth was the hedge fund that lost 6.5 billion dollars betting on hurricanes last summer...he's saying your bullishness must be derived from that type of mentality (the natural gas traders who worked there are funnily enough out of a job after such losses). Now, please explain Finland + Alaska...
OK...Just thought that he I came from a city in the Maya area in Mexico... anyways, I misunderstood. So why can't NGAS do that...it did it before. This coming up trend is just a correction...I mean from 6 to 16 ( 2 years time frame) The overall trend is south into 2010...seems to want 2$ by then... should fall bad from 16
I called the top to the tick and I will call the next bounce to the tick. I will not be taking this trade. However, if you have been waiting to get long some nat gas for a longer term hold these are some excellent levels to start creating a position.
Your numbers seem a bit to extreme...and dare I say simplistic. Just looking at long-term charts? I just don't follow where you come up with your price targets. Also, your "Alaska + Finland" analogy still makes no sense to me either...please explain that (3rd request).
Well you can see the low of the move was a few ticks away from the 78.6 of the prior move up. This is the MINIMUM target for the completion of a 5 wave move. The minimum was hit so now it can move to new highs now if it wants to. In a perfect world I would like to see a pull back at one of those pink zones back to retest the lows and possibly get down to the second zone. At the second zone you are getting better value. It will probably trade between 7.20-7.70 for a couple days.