RE:RE:RE:Oversold ...My thougts are that most still think we are in a warm El Nino winter and that this cold weather is an anomoly.
I use UNG (an stock that folows Nat Gas futures) as a side line Nat Gas play and sold yesterday as it hit extreme highs.
I am expcet this cold spell to recede, then rise and repeat through to th end of March. I hope that there will still be some more nice money to be made with UNG but it is volitile and I only like the extremes.
This is not only a weak El Nino but also a El Nino Modiki which is a much different weather pattern that plain El Nino.
We should be back to La Nino starting to form in approx. July so 2024/25 winter will be interesting.
We did form an extreme low for Nat Gas but I wouldn't rule out a sharp "V' bottom over the next 6 months.