What position should you take: Be flat or short (on pullbacks). Long positions should not be taken just yet until I see a confirmation signal..
What position do I have?: I am 100% flat the market. If we bounce back up to 3.35 on Monday, I will go short with stops at 3.40.. if you trading HND.TO just calculate the percentage changes x2.
What exactly are HNU.TO/HND.TO?
HNU.TO – the Horizons BetaPro NYMEX Natural Gas Bull Plus ETF –tracks two times (200%) the daily performance of NYMEX Natural Gas.
HND.TO – the Horizons BetaPro NYMEX Natural Gas Bear Plus ETF –tracks two times (200%) inverse the daily performance of NYMEX Natural Gas.
They are only available on the TSX (Toronto Stock Exchange)
Chart (60m showing the downtrend):
Why do you like them better than UNG?:
UNG is trading at a 11.32% premium. It's a ticking bomb waiting to blow up when it starts trading at it's NAV.
UNG Facts
Ticker
UNG
Closing Price
$12.49
NAV
$11.22
Premium / (Discount)
11.32%
60m chart:
Where do I see the bottom: The 3.19 area is strong support (3.15-3.20 is all support) and I believe it could be the bottom. If that number does not hold, 2.54 could possibly come.
Comments? Criticism? Feel free to shout out whatever.
Good weekend all. Let's all make $.
