RE: RE: Put Action...
Well SOMEONE has to be buying contracts to make the price go up. And with the millions and millions of shares going into Nat Gas ETF's HUN, HNU, GAS, UNG, and hundreds more probably, I worry that holders of these shares are the biggest customer of Nat Gas right now LOL
which means as we buy these ETF's we are actually driving up the price.
But I don't really know so don't want to make an assertion that I couldn't back up with something. But I had heard the theory put forward even on the boob tube.
I hear the talking heads on CNBC saying that UNG is dangerous to be long in right now and so thought maybe not so dangerous to be short in.
Also holding half my position in T.GAS (Claymore nat gas)... had to take off half as it was at 118% from where I bought the Jan 2010 Calls... will buy it back lower if we are reversing tomorrow... I would like to see us retrace to around $3.25... I always thought that Nat Gas dropped into late October and so I was taking advantage of the spike. Still my plan but these markets seem to need adult supervision and there is none right now...