Despite U Pep TalkI was adamant in posts to exit on Tuesday a 9% fractional move on UGAZ, probably 6% HNU. Why is the fact your prior short term trend was negative U, thus you were trading a forward bounce.
The U trade Wednesday faced higher temps before the storm arrives, and we do not yet know where a storm will reach on required demographic cities.
Last with support factors for U were not guaranteed in place Wednesday a pullback was inevitable prior to report. The result is a Wednesday drop on U as I saw being high probable the rise and then pullback.
You need cold air movement coming from NW toward Ohio valley. Does on exist at this time as a factor. U will probably dip at report and rise only because it drops so far a/c buying produces upside.
U may dip or drop at report and rise only if draw is 145 + and there is strong evidence of a change in the wind stream moving south, south east.
Mayor, I see it, you said it. A increase in production and delivery capability exists. Therefore I trade and hold U when high demand factors are inevitable, not speculative as is case right now.
Glta, Cheers Manx