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TFC Commodity Trading Forum

Re: March Nat Gas/In the Handbasket/Lee *PIC*

Well with the capitulation seen lately and with Wayne's projected time/price today bang on,along with the huge stretch away from the 20ema, NG is a tempting trade here. And I'm not one to favor countertrend trades that are crashing. Been thinking of buying the ETF:UNG with no margin used. Can't get into too much trouble with that type of trade. Today's high of 5.27 is also the low of the previous two days. So 'if' price clears 5.27 I will take a long position unless there is a huge gap up or some such technical action that aborts the trade. You can see the 20ema is about 6.25 presently. There is a multitude of ways to trade NG like everything else. Even some of the NG stocks could be good trades as well. Or options. I might have a look tonight at Chesapeake or some of the other NG stocks to see if there are better set ups. But price is stretched out and getting way too obvious to be short. That tends to be the end of a move at least in the very short term. Like too many people on one side of the boat type of thing.