Sometimes we all mix up the idea of "being right" with the idea of risk control. When that happens we take a big loss. Most of us have done it. Don't spend any time worrying about whether you sold at the low. You did what you had to do. Next time, do it sooner. Remember there's no graceful exit when you're in a position backwards. You just puke it out and take the chance you puked it at the low. The good news is there another trade coming down the street. Good luck to you. OldTrader
Old trader, thank you for the kind words and you are right! http://www.bloomberg.com/apps/news?pid=20601087&sid=aeXqcjrcwQQk natty article
Lol... okay. NG is roughly $2.50 now. All time highs hit twice were about $16.00. LOLOLOL???? I keep adding to my UNG on my swing accounts! And eat some NG on my FX platform... This is my only long term play really... As WB once said... be fearful when others are greedy. When others are fearful and be greedy when others are pussies!!! I'm not saying UNG or NG will go up 400-600% in one or two years - I have no clear exit at this point obviously. Oh one last thing: NG $2.50 LOLOLOL - could go to $2, 1.75, I don't care I'll just bough more thanks. I'm not an options guy, however, I know there are some very nice options out there for UNG I highly recommenced anything you can get that's long term. NG will probably be one of the last things to go up when the economy recovers... but who cares, 3x digit returns in 2010+ or 2011+ doesn't matter.
Natural gas is not easy to trade even for some big hedge funds: September 2006 was the meltdown at Amaranth Advisors, a formerly high-flying hedge fund that lost $6 billion (65% of its assets) trading natural gas futures contracts.
And what happens to the UNG every single freaking month when they "roll" into the next month via a contango market, genius? How about when UNG gets clearance from the SEC and CFTC to sell more shares? What do you think will happen to that 16% PREMIUM that UNG trades to the NAV? Duh. I've never seen so many flies flock to crap in my life. They have NO IDEA what they are trading. PT Barnum was right. Suckers are born every minute!
Really? Please post a web-link that references your claim and shows what percentage of overall NG supply LNG is to the North American market.