comments on bottom and entry....... further to my previous posts
I refer to another poster who provided the yearly seasonal
futures chart for NG about 8? days ago
It shows a typical short rally late JULY toO mid Aug of each year
but it is followed by a dip to first week of Sept ( bottom).
Please don't rant about hurricanes
(which is a bet 1 of 3 big ones will do significant damage to
specific areas of Gulf - usually end of Aug/ Labour day -warmest water )
( And is when a bull trend generally starts
and which I suggested is the safer entry point)
Draw down actually doesn't start until end Oct
So as to the Aug rally , I would have thought a rally starts say next week
to about mid Aug -then sell
Maybe starts about now -but could fail this year with the large industrial slowdown
( and the faster storage filling this year )
Always use $natgas ( is End of Day chart only ) on www.Stockcharts.com
- use Gallery view ( and the futures chart for the daily shift)
Charting and predicting price from HNU itself is unreliable
since it is derived from $ natgas and z:UNG
estimate your % move from the $natgas chart
Cudos to those who can trade HNU ( HND ) successfully for small swings
Which has recently just become more viable ( like today )
Lots of useless moaning over HNU
Moaning always distracts you from searching out other opportunity
( ( don't) see v.OIL NT GM? threads )
I guess it must be offset by praise for Betas on the HND thread
I see no positive ( bottom or upturn) indicators on $ natgas chart ( yesterday's close)
- in fact the P&F alerts to a triple bottom breakdown on the 13th
Although those indicators could change on the closing update today and show a "box".
Yet could easily see 3.15-3.20 in next 5 days
Also I note z:USO oil shows a bottom price ( daily )
( "the 31.57 number is boxed" overnight, on the chart- quite reliable)
- but not on the weekly
Still not in and likely will wait till next week
Good investing
U