darn $natgas chart and comments .....$natgas chart resumes downtrend
( www.stockcharts.com Gallery view )
Per my morning post,
On the weekend it seemingly ?! rolled the
"continuous contract" to OCT and it distorted the chart
SO the triple bottom on friday was false
( and since chart tracks futures... )
the EOD ( end of day ) chart will update sometime after 5 pm est?
What's with the chart, after 5 pm it shows 3.60 for the 18th
which is really for
the end of the 17th or Opening of the 18th
not the close?
Close for NGU9 is 3.10
close for NGV9 is 3.47
What DOES the $natgas chart reflect?
So $natgas can likely fall to 3.20's and retest i?
And then we might look for a triple bottom on the WEEKLY chart ,say Friday
and in the middle of the Oct future month
And if we get a close at 3.24 we can then get four "O's " on the P&F
and see if we break lower on P&F ( next week )
Charts indicates some bottoms occur in Late Aug and as often in Sept
-which can be end of Sept,
( appears to be actual time /month not future)
Interesting -I asked for comment on the " Continous Contract" definition
for 3-4 weeks and now we see is difficult , people comment
And for DaveKing
likey short t:gas if sure of further drop- Gutsy at this stage- Might as well buy HND
As I posted in July -- Alberta is the swing producer for the US
If US in oversupply they won't buy spot from Canada so we fallmore than us ( ie GAS )
And if our dollar gains it gets worse
Guest on bnn also mentioned this last demand concept today
Anyway still out and likely will be waiting 1-2 more weeks
Or even 4 weeks
Nobody learning?
You would NEVER hold the betas for a year
NG is seasonal as well so you should be out by Feb-March
And in any case out for a dip and reset to re-enter say before NOv
if not each 2 weeks
And interesting L Berman gave a study Monday that overall best risk for
stocks is to trade out after just 1.5 months yes 6 weeks then re-enter
( and compound in rrsp or tfsa )
Wow
So even more reason to not hold a Beta very long
Actually 1 to 5 days let dip then rebuy if in a trend?
Yet
you might get lucky and catch the once a year trend
But in general If you want to buy and hold ( as in over 4 months) find a 1x like GAS or one in USA
NOT HNU Remember that is NOT HNU Did you get that? NOT HNU
Maybe Tgar will use his knowledge and prepare a long note with full instructions ,in notepad
for regular paste-in reposting
re CNBC
Why mix trend of next 20 years for N G use , with production /demand and recession of next 3-6 months
Certainly N G COULD dip hard in next 2 months
U