KOLD etf down 78% ytd.
Natural gas looking like MEME stock!
- Thread starter S2007S
- Start date
Yes and negative 93% over 12 months.
Makes sense given the worldwide shortages and news that US will sell some to Europe. And in a connected way Canada will sell to US because we don't have the logistics yet to send internationally. In a couple of years, major new pipeline opens up Asian NG market to Canadian producers. Always some price manipulation so I watch my NG stocks frequently sell/rebuy when tides change short term.
I sold my original position months ago, well before the drop and bought back in on March 30th and again last week, cost average on these shares is now $15.15.
Now $6.03 down 89.4% ytd. Good way to kill money fast.
It is kinda' scary how high NG futs have risen on the CME. 8.5? Mmm. You NG traders out there, be very keen on this war. The moment there is news over the Eikon terminal that Putin is dead or declared the war over? NG is going to drop like an anvil.
Think of James Cordier, but in reverse.
CannonTrading_Ilan
Sponsor
Monthly chart for longer term perspective:
A scary-looking chart on the potential downside. My God.
As an aside, there's a mini heat-wave hitting the Northeast this weekend. So there will be a sudden decrease in demand for heating, but a spike in electricity usage as peeps use their A/C units? So nutty.
I say, prepare for a quick dip early next week.