NGAS thankfully closed at 3.8 when it crossed the 4h trend line. This bull run is insane, straight through the 100 and 200ema. Next stop 4.2 i think. that will be my first short position, and ill add more to it the higher it goes.
NGAS Managed money has been heavily long for months, but since the week of Mar 10, has started reducing those positions, while non-derivative users (the folks handling the actual product) have been reducing their short hedges. They are less worried about price increases. Maybe today is meant to pop your short position off the table? Retailers are heavily short. Best time to do it when the entire market is tanking, and retailers are more risk averse. Back to 4.2? WTF knows, but higher than that seems laughable.
NATURALGAS 5-year low of GWDDs showing how bearish this is someone is either keeping nat gas up or there is something going on behind the curtain here..