Category Archives: UNG-24-11

Metals … ‘Whacked!’

July 25, 2024 By in DUST, GDX, GDXJ, GLD, Gold & Silver, Gold Miners, JDST, JDST-24-05, SLV, UNG, UNG-24-11

Just Shocking

Especially shocking after having been subjected to non-stop delusion (now going on four months), and being ‘certain’ precious metals were headed higher.

Enough already.

Silver (SLV) is currently trading down a whopping -4.7%, in the pre-market session. Gold (GLD) is lower by about -1.2%.

Silver analysis has been consistent; SLV, price action itself, indicates a top and reversal or at best, sideways congestion (not advice, not a recommendation)

If one wants to review, starting back in April, we have:

Silver Top, Top Part II, Top Part III, Top Part IV, Top Part V, Top Part VI, Top Part VII, Top Part VII+, Stalls-Out

Now, this update essentially completes the process.

Silver, SLV, is about to open well below resistance as shown in the ‘Stalls-Out, update.

The Battle Against ‘Tik-Tok’ Brain

Fewer and fewer have a brain … like this (warning, profanity).

This guy sounds very much like the one in the ‘About‘ section. 🙂

Housekeeping: UNG, JDST

As can be inferred, a short trade via JDST, has already been opened: JDST-24-05.

Depending on today’s action, the stop listed is likely to be moved higher (not advice, not a recommendation).

Nat-Gas (UNG), on the other hand, is not behaving as expected.

The initial position UNG-24-11, was reduced by 80%, as a result of yesterday’s action. It’s likely that position will be closed out completely during this session (if not already).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279

Nat-Gas is Back

July 22, 2024 By in Natural Gas, South Sea Bubble, SOXS, SOXS-24-12, SOXX, UNG, UNG-24-11

Reversal Action

Price action detailed below, shows upside reversal (not advice, not a recommendation).

It’s been a while since the last update on Nat-Gas, UNG.

Since then, price action sliced through support (shown in the update), posting new lows.

However, over the past week, the character has changed.

Natural Gas, UNG, 3-Day

Today is ‘Day 3’, for the chart’s price bar; tomorrow’s action begins a new ‘3-Day’ bar.

At this juncture, the prior three-day move to new (daily) lows has been negated with today’s action.

If positioning long, the obvious stop level would be the low of the current three day bar at UNG 13.89 (not advice, not a recommendation).

Anything Can Happen

The past two weeks has shown us, in no uncertain terms, that anything can happen.

So, it is with the markets.

Nat-Gas has been bouncing around historical lows for some time; plenty of time to wear out any (remaining) bulls.

SOXX Housekeeping

While under no obligation to discuss open (or closed) trades, as a courtesy, today’s price action forced closure of SOXX short trade; SOXS-24-12

Total profit on the trade, having twelve separate entries and one exit (today) was just over 19%.

We’re potentially at the top of the largest mania in history save the South Sea, expecting things to go in a straight line is (apparently) not realistic. 🙂

Let’s see what happens next.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279