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re: BOIL has become predictable

Posted on 2/26/15 at 2:12 pm to
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7139 posts
Posted on 2/26/15 at 2:12 pm to
What happened today? UGAZ and UWTI both down double digits.
Posted by sneakytiger
Member since Oct 2007
2473 posts
Posted on 2/26/15 at 2:16 pm to
What are cash prices at today for HH?
Posted by rintintin
Life is Life
Member since Nov 2008
16186 posts
Posted on 2/26/15 at 2:22 pm to
Well for Ugaz I think the draw was a little lower (or higher depending on which way you look at it) at -216 than expected. I think many were hoping for the -250 range. Alot of the price was apparently already baked in with the small run up over the past couple of weeks. Winter is almost over, so I guess people are jumping ship.

As for oil, I have no clue, I don't follow it very much, but the two have seemed to coincide lately.
This post was edited on 2/26/15 at 2:23 pm
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7139 posts
Posted on 2/27/15 at 12:41 pm to
I bought UGAZ at 2.73 and it hasn't gone above that since then. Should I sell for a small loss or hold over the weekend. I know holding is usually a bad idea but for short term (2-3 business days) I think it'll be alright. I think UGAZ should go up from here.

What does the great mind of the MT board have to say?
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 2/27/15 at 2:19 pm to
Keep it over the weekend if you own it 100%. I think UGAZ is the trade until April and May expiry in my opinion. Keep in mind expiry is end of Feb and end of March for these months.
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7139 posts
Posted on 2/27/15 at 3:55 pm to
I am holding the UGAZ. We'll see what happens.

Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 3/1/15 at 6:26 pm to
I might have steered you wrong. Cash dropped significantly on Friday, and April is trading slightly down tonight. I'm staying short, but I'm going to monitor the situation closely.
Posted by sneakytiger
Member since Oct 2007
2473 posts
Posted on 3/2/15 at 9:54 am to
As of this morning, I'm officially off the UGAZ pain train and all aboard on DGAZ.
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7139 posts
Posted on 3/2/15 at 10:00 am to
the UGAZ I bought at 2.73 last Friday, I sold this morning at 2.73 for no loss/gain.

I bought some UWTI this morning at 3.04 and sold at 3.06 for a ginormous gain of 0.66%
Posted by jlu03
San Diego
Member since Jul 2012
3320 posts
Posted on 3/2/15 at 3:48 pm to
I'm still holding strong on my April 17th UNG 13 Put which I purchased early last week when UNG was around 14.60. I think we could see sub 13's in the next couple weeks especially if Thursday's report doesn't beat estimates.
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7139 posts
Posted on 3/3/15 at 8:54 am to
DGAZ

Bought at 7.47

Sold at 7.59

Profit of 1.60%
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 3/3/15 at 2:15 pm to
Monitoring the situation carefully.

"The major level that this market must break in order to achieve this suggested 2.20 would be 2.59, our current yearly low and a supportive level since 2012. Upside resistance levels exist around 2.80, 3.00, and the un-filled gap in-between 3.21 and 3.27."

To oversimplify, what they are talking about is to get to $2.20, which is the price point drop as a percentage of crude, and also where gas dropped before bouncing in 2012. During the summer, not winter.
This post was edited on 3/3/15 at 2:33 pm
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 3/4/15 at 8:17 am to
Short DGAZ. A long way to go, but I think I'll get out ok.
Posted by sneakytiger
Member since Oct 2007
2473 posts
Posted on 3/4/15 at 8:42 am to
$2 gas seems like it could be a reality this spring - in a lot of ways we are in a worse place than 2012, mild winter and high storage aside. There is massive infrastructure coming online in the next 6 months to move Marcellus gas south. A lot of the major production receipt points in the Marcellus are trading around $1.50 today. Henry hub basis could get crushed as a result. The only thing offering a floor is power producers, but they aren't really in the picture until the summer. Take with a grain of salt though, my timing has been close to 100% wrong with this entire trade the last 12 months.
Posted by Grits N Shrimp
Kansas City, MO
Member since Dec 2014
646 posts
Posted on 3/4/15 at 3:03 pm to
What are we expecting/hoping for the injection tomorrow?
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7139 posts
Posted on 3/4/15 at 4:53 pm to
I didn't play today. Spent most of the day in north louisiana out of cell tower range.
Posted by jlu03
San Diego
Member since Jul 2012
3320 posts
Posted on 3/5/15 at 9:28 am to
2 minutes.... Should be a big number but I hope it misses the estimate.

-228 which is in line with estimates. Warmer weather on the way.
This post was edited on 3/5/15 at 9:33 am
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7139 posts
Posted on 3/5/15 at 9:54 am to
today's play

UWTI in at 3.23, out at 3.30

gain of 2.17%

and

EXXI in at 4.39, out at 4.45

gain of 1.37%
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 3/5/15 at 10:21 am to
Warmer weather doesn't always mean natty gas drops. One need only look back at the last several springs.
Posted by jlu03
San Diego
Member since Jul 2012
3320 posts
Posted on 3/5/15 at 10:28 am to
I agree but we are also in a supply glut. I don't see prices falling too far but I think a 15 - 20 percent drop isn't out of the question. JMO
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