Nat. Gas report came in about a half hour ago with greater than
expected nat gas reserves/supply....84 mil cubic feet compared to
the 80 million anticipated, so that's bearish for nat. gas.
The decline in nat. gas has been killing me too. I recently
bought UNG and Chesapeake Energy (big nat. gas co.) option calls,
and they're taking a hit.
UNG gas
Posted by kreem on 24th of Jul 2008 at 11:03 am
natural gas UNG is definitiely NOT bouncing ... yet,
long term support, 61%, way oversold and tanking further
could be a wash and rinse, hope so, I got some this morning
Any reasons known? - I thought the fundamentals on gas were even more bullish than oil?
Nat. Gas
Posted by bob52 on 24th of Jul 2008 at 11:11 am
Nat. Gas report came in about a half hour ago with greater than expected nat gas reserves/supply....84 mil cubic feet compared to the 80 million anticipated, so that's bearish for nat. gas. The decline in nat. gas has been killing me too. I recently bought UNG and Chesapeake Energy (big nat. gas co.) option calls, and they're taking a hit.
Nat Gas
Posted by rgoodwin on 24th of Jul 2008 at 11:07 am
Heard a trader on CNBC talking about it could go back to $6 - $7 so it may not bounce.