my new favorite contract to trade QG sitting at $4.80 right now.. been beaten down hard from $5.50 EOD i was looking to long 4.75 but never got filled any commentary from ET NG/QG traders?
I went long NG last night...I went in at 4.80...more or less. Im planning to hold until 5.25. I really don't like NG though. Bad macro trends to be long.
But - i do like to 'buy low'. And NG is very low, all things considered. Look what happened when it touched this price in December.
Have traded UNG options for a long time and have been trading NG and QG lately. I've been getting wiggled out, stopped out QG -150. last night. Was up nice 550. on NG after inventories this morning but kept my stop near breakeven, looking for a bigger move but it whipped back down, stopped at +30. Would like to just buy a contract of QG right now and hang on for 5.50 plus but don't trust it just yet, too choppy and aimless, just daytrades for now.
just sold my positoin on a little pop this morning i may or may not buy back in for a longer term swing trade.
got a 1c move! lol trading more YM today.++ EUR was swinging CRAZY i was SURE that the snow and cold weather would push this up a bit.. disappointed at the price action. >>im new to energy trading.. what happens generally in the summer months with warmer weather for natural gas? can we really see 5.5 again going into the summer with CL below ~80?
I would not thinks so... but with NG you never know... one of the wildest assets there is! Just ask Brian... Also see my post in another thread: http://www.elitetrader.com/vb/showthread.php?s=&postid=2752289#post2752289
What are the correlations of NG vs other things? anything you can think about, and correlated?? NG is on its own, a quiet slow death. The only thing for certain is that UNG will continue its slide. Eventually get shut down, or re-organized....