STOCK: UGAZ

Stock discussion for UGAZ

CHA-CHING!

Holy crap - look at my brokerage balance just skyrocket!

Hit 2.40.

Wondering if it is a good time to add more. THoughts?

I don't plan to, but if Gbones is right over on ST, NG is going to 3.60 - which means a double+ on UGAZ.

Ultimately I believe gbones to be correct....but when? And, will there be a retrace between now and then?
Guess my take would be wait for a first level fib retrace and then stock up.....and gracious....I was looking at my accounting for this ETN and discovered I had an extra 100 shares I didn't know I had.... monopoly 'bank error in your favor'.....I expect that to pay for all my broker fees....knock wood.

I currently have a sell limit for 5800s at 3.08....depending upon circumstance near there...and gbone's predictions...I may sell half, keep half, or even hold it all with a generous trailing stop....(hear the sound of my hands greedily rubbing one over the other)

Will look for a retrace on Monday and see if i can jump in. Not sure about a huge retrace as 20SMA is acting as a support around 2.65..Time will tell.

I'm thinking to sell the same way that I bought. I bought 1000 shares at 2.50, 1250 at 2.25, 1500 at 2.01, then an extra 1000 buy at 1.96 (not really a planned buy, just a whim), then 1750 at 1.75. So I already sold 2000 shares (the original purchase + the unplanned buy) at 2.30. Maybe I'll sell 1250 at 2.55, 1500 at 2.80, and 1750 at 3.05. If it doesn't rise, I'll reload the 2000 shares that I sold at 2.30 on any major dives to bring my average down even further.

If it doesn't go up....then I would like to buy another 2000s at 2.25 which i think is in the realm of possibility
fib# would be 2.18 and also pivot point and raw stoch of 30%

Happy Monday!

All:

Based on some info on ST, it appears that the overall opinion is that if Natural Gas Inventory is up, then UGAZ will be down, and when Natural gas Inventory is down, UGAZ will be up.  I did a quick analysis, and it here are the results:

Number of 1 week periods tested: 165
Number of times inventory was down: 63 times
Number of times inventory was up or no change: 103
Number of times UGAZ was up: 78 
Number of times UGAZ was down: 87

Now here comes the correlation info:
Number of times inventory was up and UGAZ was down: 53
Number of times inventory was up and UGAZ was up: 50
Number of times inventory was down and UGAZ was up: 28
Number of times inventory was down and UGAZ was down: 35

Conclusion:  No real correlation exists between weekly inventory data and UGAZ prices.

Comments?

Thank you,
VB

good info vb. Cannot really see a pattern. Looks like We need to play with momentum and charts. With a strong support, I doubt if it will go down after report. looking to buy little more before report.

Per gbones chart there might be a pullback before it heads up..order in for 2.30..lets seee

Good job on the 2.30 re-buy. Looks like that was the short term dip anyways.

Looks like I missed a better deal

Still a pretty good price to buy. In my opinion, buying non-renewable commodities near historical lows is pretty low risk. When this goes above $3-$5, it won't matter too much when you bought in the $2.10-$2.30 range.

Gbones just sold if you are following.  I'm thinking about at least reducing my risk and freeing up some cash.  I'm at 2.05 average cost though so I'd get a hefty profit.  Too many other fish to fry with some precious metals looking attractive.  

I still believe big upside to gas though and will still hold a couple positions. If it continues to drop, I'll reload.

Stop loss set at 2.50. Will let it run if it goes up, but taking profits at 2.50 if it drops. Yes, I'm weak! haha!

Stop loss hit this morning for 2.50 at 1250 shares. Only 1000 left. I'm not selling this final 1000 though and I'm actually calling this my new starting postion for the next cycle down if there is one. 2.40x1000 shares, 2.15x1250 shares, 1.90 at 1500 shares, 1.75 at 1750 shares. So this will be my 2.40 x1000 even though I only paid 2.05 for them.

it is official, I'm out!  Sold off last 1,000 shares at 2.72.  Total profit this cycle: $2,191.50.

i think there is a v good opportunity for this one to hit 3 soon. May be this thursday. But again, you locked in profit and sticking to your plan - nice.

kannan19 wrote:i think there is a v good opportunity for this one to hit 3 soon. May be this thursday. But again, you locked in profit and sticking to your plan - nice.

I agree this could take off soon - I probably sold too early, but you know the Baron Rothschild quote, "I made my fortune by selling too early."

That said, I did not stick to my plan. I was selling in a pretty haphazard fashion - haha!

If this dips hard though, I may start another position.

I have a sell limit set at 2.74 for 2000s which would be a $760 profit on those shares....It would leave me with 3800s at 2.70 ave....waiting for 3.08 as my target

StLBill wrote:I have a sell limit set at 2.74 for 2000s which would be a $760 profit on those shares....It would leave me with 3800s at 2.70 ave....waiting for 3.08 as my target

You are making some mulah!