Comments on: UGAZ Poised for a 13-27% Rally

By: mic

mic — Wed, 31 Jul 2019 14:54:05 +0000

In reply to rsotc. Nice call, Randy! I’m in QG. thank you!!!

By: FrancisQ

FrancisQ — Wed, 31 Jul 2019 14:18:42 +0000

This could just be an oversold bounce. Just like the previous one in late June. Could retest this level after this bounce. I have a feeling it could go higher. But not all the way.
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Seasonality won’t be strong until Dec. It’s down to the weather in the coming months.

By: Robert_Matthews

Robert_Matthews — Wed, 31 Jul 2019 13:24:26 +0000

In reply to rsotc. I'm confused tho....we have strong divergences on the Day and Weekly charts. Why are you considering this a one and done?

By: rsotc

rsotc — Wed, 31 Jul 2019 13:14:10 +0000

In reply to rsotc. To use an analogy of 2 popular online dating apps, I typically view my swing trade ideas as if I found them Match.com (typical swing trades lasting weeks or months) or Tinder (quick swing trades typically lasting just days or a couple of weeks, sometimes just a few hours). This /NG is a Tinder Trade... wham, bam, thank you ma'am. I might be out of this one by the time you read this or maybe not for another week or two but most likely somewhere in between.

By: rsotc

rsotc — Wed, 31 Jul 2019 13:05:55 +0000

In reply to Robert_Matthews. Possibly, but I don't think so based on my read of the weekly charts.

By: rsotc

rsotc — Wed, 31 Jul 2019 13:05:02 +0000

/NG has just kissed minor resistance at these two reaction lows so a minor reaction is likely before the next thrust up to the 2.21 area: https://www.screencast.com/t/mDTB0FqbWM

By: rsotc

rsotc — Wed, 31 Jul 2019 12:56:22 +0000

In reply to rsotc. ...and ripping since the breakout, which helps to validate it & increase the odds that the breakout sticks.

By: Robert_Matthews

Robert_Matthews — Wed, 31 Jul 2019 12:52:11 +0000

do you think nat gas could be bottoming for year?

By: rsotc

rsotc — Wed, 31 Jul 2019 12:40:46 +0000

FYI- /NG triggered a buy signal on an impulsive breakout as I was composing this post. UGAZ is also trading with minimal spreads (1-3 cents) in pre-market trading which makes that a viable alternative/proxy for taking a position in nat gas as some ETFs & ETNs are thinly traded in the pre-market session which results in wide spreads & unfavorable fills.