"Technical Analysis Doesn't Work... TA Sucks", you say?

[murray t turtle]

You might have a tough row to hoe, buckeroo... 1st time I made $1MM in a year, I was giddy for 6 months. Told my parents... they didn't believe me! (A couple of years earlier, they'd refused to lend me $10K for the down payment on a town home out of concern I wouldn't be able to pay it back... ain't that a hoot?)

%%
Actually sounds wise, not lending family money;
sounds like you did not really need it, especially from family. Foreclosure rate goes up when down payment is small.Paul tudor jones actually got interested in trading, reading Rich dennis he noted
Another advantage of not lending family money= never have to sue for non payment
My mom loved to lend me books, but i seldom borrowed them because i had to return them/LOLGood gift from mom=Dave ramsey book;
he dosent like loans to family also.
I'm glad i never borrowed money from my dad's bank; best not to borrow from family bank .

 

[countryBoy641]

Great day for BOIL and Natgas.
Buy it on any pullback.

 

[Scataphagos]

Opposing forces in NatGas market. On the one hand, the market is facing "very high" supply. On the other hand, market appears to be discounting efforts to "reduce production" to alleviate the oversupply. FWIW... trade accordingly.

 

[taowave]

Trade accordingly...thats cute

 

[murray t turtle]

Great day for BOIL and Natgas.
Buy it on any pullback.

%%
THEY're buying nat gas today, not in that one.
barchart.com has an 88% sell last week\24% buy this week which would be a 76 %sell this week, all time frames combo.
But that's nearest volume month contract

 

[Handle123]

Am buyer of Nat Gas/hedged but am always early.
How low can it go.....

 

[themickey]

Am buyer of Nat Gas/hedged but am always early.
How low can it go.....

Getting in early is a problem I've suffered with too, a stock will have dropped a mile and you think it is now at the floor, then it goes down more, aaaahhhh!
But Natty, I have that as rising from early next week.
If that move fails, then all bets are off for another month.

 

[semperfrosty]

Am buyer of Nat Gas/hedged but am always early.
How low can it go.....

Hope it turns around for you shortly.

If I recall correctly,you bought before this post but the data Scat mentioned earlier on made me doubt the strength at $2:

I looked up natgas data going back 25 years.

1. In 2020, natty reached a low of $1.40-ish and spent 9 months in the $1.40-$2.00 range before seasonal rally.
2. 2020 had the "highest NG reserves going into the heating season"... bearish
3. 2023 is currently "estimated it will have the 2nd highest reserves going into heating season"... second only to the 2020 levels... also bearish if that turns out to be the case.

 

[Scataphagos]

Am buyer of Nat Gas/hedged but am always early.
How low can it go.....

Well... in 2020 Natty made a low of ~$1.40. Could be going there again, who knows?. But so long as NatGas "ain't going away"... odds of making bank on buying current and even lower prices is high, IMV.

 

[Scataphagos]

Hope it turns around for you shortly.

If I recall correctly,you bought before this post but the data Scat mentioned earlier on made me doubt the strength at $2:

I looked up natgas data going back 25 years.

1. In 2020, natty reached a low of $1.40-ish and spent 9 months in the $1.40-$2.00 range before seasonal rally.
2. 2020 had the "highest NG reserves going into the heating season"... bearish
3. 2023 is currently "estimated it will have the 2nd highest reserves going into heating season"... second only to the 2020 levels... also bearish if that turns out to be the case.

$2 is a HUGE historical price level, so players are playing it. Odds are, IMV, even if price dips below it's likely to come back to $3-$4, minimum... and maybe even $6-$10.

"Buying down" at this price and lower is not "averaging into a losing position"... rather it's "accumulating shares at a low (bottoming?) price".... IMV.