chunkyhounddog

Looking for price to rise next week

AMEX:FCG   FIRST TRUST NATURAL GAS ETF
67 10 2
Started a position in GASL             on Friday. Will add on strength
Nailed this chart! Your C wave was spot on. Any thoughts moving forward?
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chunkyhounddog PRO LachlanGorman
I posted an SPX weekly chart tonight. Take a look. If we blow through the upper trend line with good volume GASL could continue to run. FWIW I think the market will at least get a decent pull back in the next week or so. I am really expecting a lower low before all time high, but not sure we are headed to new low immediately (may correct and then chop for a little while). I purchased GASX at 16.1 and 15.5. Stink bids that I set earlier this week and got filled today. I set another at 15.5 tonight in case oil pops again tomorrow. If not I will probably purchase more at a higher price next week if I feel like the market is going to correct as I am expecting. GL2U
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chunkyhounddog PRO chunkyhounddog
Sorry I got a little ahead of myself. Todays fills were 17.1 and 16.5. The bid for tomorrow is set for 15.5.
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Do you know why GASL is up 30% yet NG1 is down 4%?
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chunkyhounddog PRO LachlanGorman
Yes, GASL has followed crude much more during the market bounces the last couple of months
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Woohoo chunky dog! 25% on GASL & 9% FCG overnight, looks like we were ahead of the market on this one.
I have closed 50% of my GASL position & letting the rest run with a tight stop
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chunkyhounddog PRO LachlanGorman
Nice trade. Good call on locking in some gains on GASL. That thing is volatile!
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Do you have any more recent thoughts? I believe we are seeing a double bottom for NG1
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chunkyhounddog PRO LachlanGorman
My take on natgas is here. I think we started or will soon wave 4 of the ending diagonal FWIW.
snapshot
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I have also just taken a position in GASL & FCG, I am keeping tight stops
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