Friday, August 24, 2012
8/24/12 Chitty Chitty Bang Bang
Got my own. UGAZ story, that is.
I read tof's post re UGAZ earlier in the week, and thought to myself 'Now that's playing to win!' This morning, I awoke at 730 am HNL time (we bought the big guy a 'Baby' G-Shock, which allows you to toggle between world time zones), checked the 'Droid, and my first impulse was to buy UGAZ at 23.50. Went down the hall for ice and missed the first opportunity> while booting up the laptop, I noticed price hops between 23.65 and 24 on the 'Droid- damn. Opening a tab to the Fido platform, bid/ask was 23.8x.23.9x and I was ready to forget the trade- prices were getting away from me. Opening another tab to YHOO Finance, the print was 23.45! WTF. I placed an immediate market order to open, which filled at 23.47. Prices then drifted down to the 23.3x range. No worries. I then toggled back to YHOO Finance with the intention of reading a 5-day chart, and the print was 23.86! Needless to day, I closed at market, which filled at 23.87. A 4-minute UGAZ thrill which netted a $382 gain.
NGas reminds me of chitty chitty bang bang. A POS that takes off when you're not looking.
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Well, 2nd_ave, if you want a POS that is very slow to take off, check out PNPFF -- it is carving out the bottom very gradually, but is clearly on the "right" side of the bowl already, preparing to explode for at least a 2X move...
ReplyDeleteIn case you have missed it, PNPFF is tracking Canadian Venture Composite Index, but with a larger amplitude: http://stockcharts.com/freecharts/gallery.html?$CDNX. So it is a pretty safe investment, I would say, especially given the 50% price/NAV discount currently present for PNPFF...
DeleteMDGN- WTF??
ReplyDeletedoc severinsen is 85 yrs old and still touring. good for him.
ReplyDeletesold 1/4 of my NOK at 3.08, should have sold half but I was distracted with work. I have a good till cancel order to EPM at 7.65 but it only dropped down to 7.70. That's one of my long term holdings.
Also to satisfy my deal junky needs i bot a SPY OCT 141/142 stranggle at 6.17. I'm expecting some volatility over the next 2 weeks but the FED euro gang may disappoint. We'll see.
Other than that I was interested in buying a thing. I keep reading pro's calling for tops but I just don't see how with all the central banks doing their thing.
whoops that is a GOOD TILL CANCEL ORDER TO BUY EPM AT 7.65.
Deletedamn it's late...any of you guys remember this whole ponzi scheme thing about nat gas shale wells?
ReplyDeletehttp://www.nytimes.com/2011/06/26/us/26gas.html?pagewanted=all
i think i've seen a few companies announce big write downs on their nat gas assets recently. also, it doesn't surprise me at all that chesapeake is in the middle of this. i bet that company goes down the drain some time...
"Some doubts about the industry are being raised by people who work inside energy companies, too.
“Our engineers here project these wells out to 20-30 years of production and in my mind that has yet to be proven as viable,” wrote a geologist at Chesapeake in a March 17 e-mail to a federal energy analyst. “In fact I’m quite skeptical of it myself when you see the % decline in the first year of production.”
“In these shale gas plays no well is really economic right now,” the geologist said in a previous e-mail to the same official on March 16. “They are all losing a little money or only making a little bit of money.”
Around the same time the geologist sent the e-mail, Mr. McClendon, Chesapeake’s chief executive, told investors, “It’s time to get bullish on natural gas.” "
Kill Shot
ReplyDeletehttp://www.bing.com/videos/watch/video/impossible-shot-from-above/pn6wxj3?q=Great+white+shark&rel=msn&from=en-us_msnhp&form=msnrll
Bruce Krasting just put out an interesting note about Jon Hilsenrath leaking Bernanke's words into the press, as he had always done in the past. Here is what Bernanke said in response to the question as to whether it is too early to think about additional QE:
ReplyDelete"the Fed must make policy in light of a forecast of the future performance of the economy"
So it looks like the Fed *is* setting up to do something in September...
http://www.forbes.com/sites/richardfinger/2012/07/22/were-headed-to-8-00-natural-gas/
ReplyDeleteIf you're still holding UGAZ when NGas hits $8, the way these ETFs work almost guarantees you'll be wondering what happened. I recommend playing the daily moves instead. Right now, it looks like an Issac-induced spike on Monday morning may give you an attractive exit price.
Deletetake a look at how fas performed offf the bottom in 2009. i believe nat gas has entered a new bull mkt and this is a great entry pt right at the pullback to the 200 dma.
Deletehttp://stockcharts.com/h-sc/ui?s=$NATGAS&p=D&b=5&g=0&id=p78280239985
fri was a bear trapp
What if we get another warm winter? TOF, Mark -- what do you think the impact of that is going to be?
ReplyDeletelast year was warmest winter on record. comparisons to last year will make storage numbers look good. just like comparisons to 08 made financials look good in 09
DeleteIn case you think the recent rally in gold/silver is just a head fake, take a look at the 10-year expected inflation chart:
ReplyDeletehttp://www.bloomberg.com/quote/USGGBE10:IND
The jump since the end of July is larger than any of the previous "head fakes"...
Apparently, Friday's upside was at least in part result, of a letter from the FED that was made public, saying that the FED was prepared to use the force as necessary.
ReplyDeleteI didn't see that but it matches what they said on Wednesday.
DeleteNEW POST!!
ReplyDelete