Comments on: Stock Market, Commodities, & Inflation Analysis 1-31-23 https://rightsideofthechart.com/stock-market-commodities-inflation-analysis-1-31-23/ Stock Trading, Investing & Market Analysis Wed, 01 Feb 2023 16:42:24 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Mikeflegel https://rightsideofthechart.com/stock-market-commodities-inflation-analysis-1-31-23/#comment-26157 Wed, 01 Feb 2023 16:42:24 +0000 https://rightsideofthechart.com/?p=210546#comment-26157 Randy could you show us a path back into Tesla please.

]]> By: trade0039 https://rightsideofthechart.com/stock-market-commodities-inflation-analysis-1-31-23/#comment-26154 Wed, 01 Feb 2023 16:13:58 +0000 https://rightsideofthechart.com/?p=210546#comment-26154 Randy any thoughts on SOXX (Semis)? Thanks!

]]> By: jmccallum https://rightsideofthechart.com/stock-market-commodities-inflation-analysis-1-31-23/#comment-26153 Wed, 01 Feb 2023 16:03:12 +0000 https://rightsideofthechart.com/?p=210546#comment-26153 gold seems somewhat resilient

]]> By: HermonMunster https://rightsideofthechart.com/stock-market-commodities-inflation-analysis-1-31-23/#comment-26152 Wed, 01 Feb 2023 14:26:01 +0000 https://rightsideofthechart.com/?p=210546#comment-26152 In reply to HermonMunster.

lol at how the futures went from +3% around 11pm last night to -3.9% before market open

]]> By: HermonMunster https://rightsideofthechart.com/stock-market-commodities-inflation-analysis-1-31-23/#comment-26151 Wed, 01 Feb 2023 06:03:39 +0000 https://rightsideofthechart.com/?p=210546#comment-26151 natural gas futures are showing some life. I’m in Texas and we’ll have freezing temps until Thursday. A huge consumer of NG , Freeport will come online sometime in Februrary after a fire shut them down.

https://www.naturalgasintel.com/freeport-lng-ready-to-introduce-feed-gas-to-train-3-for-first-time-in-months/

This is bullish for natural gas, but the cold weather is fleeting and Freeport coming online is probably already priced in.

Seeing how we are rsotc-ers, we play the charts.

There is a trendline around 2.94 for natural gas futures that has been hit over 50 times since 2012 (I got tired of counting. It’s probably closer to 80). That is my T1. I will unload at least half of my position there.

I was fortunate to be down about 5% in BOIL at today’s close and about 7.5% in ung. There could be more upside, but I’ve put way too much of my portfolio in natural gas and my hopium levels are running low.

https://i.imgur.com/WhvuetP.jpg

My T2 is about $3.62 but who knows if that will hit. One thing to consider is that the pre-Russian invasion NG prices were $3.6 and the high around this time in 2021 was $3.32

Looking at the weekly chart, the current pricing is about right in the middle of the trading range going back to 2008. Looking at the last time NG was at the current price until it hit the top of the range at $3.8, it took about 3 months to get there.

Long story short, this bump that could be coming in the next week or so, could be the last one for quite some time. Just food for thought from some guy on the internets.

https://i.imgur.com/gUfgOFb.jpg

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