$ProShares Ultra Bloomberg Natural Gas (BOIL.US)$ Painful......
Painful...but I can't imagine we'll go any lower. Maybe $8.75 but I can live with that. Couldn't resist buying again...HaHAHA. If we have another small rally everything will be back in balance. Someone told me that the gas market is really difficult to trade. I say...the man is right !!! Good luck to all…...especially for next week.....heat wave in USA...!!! Hope that gives us a boost.
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Dr DT : Your comment is absolutely correct. BOIL may still go down a bit but it is hitting support so there should be quick rebound back to above $9. Just need to have a bit more patient and I believe should have nice profit. I bought BOIL yesterday at 9.65 and my target is 12~15. after that there should be a much bigger drop. Current natural gas chart is forming a MA pattern. Meaning up then down. So this is not a long term hold. Wait for the bounce up then take profit and exit. Can consider short after.
Dr DT Dr DT : As I expected, we saw BOIL dropped around 5% in early trading today but then a major reversal up over 7% and market closed at over 6% gain. I am still holding it and will let it ride to at lease above 12. This is a nice quick profitable trade with strong rebound as natural gas hits major support. Cheers.