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Today may be the last opportunity you have to buy into energy shares before they move up towards my targets (e.g $62 crude).
I drew this parallel channel last night on UGAZ and it’s bounced hard right on cue. I think we see a strong move up from here.
Edit: Here’s the NATGAS Wolfe Wave and historical support referenced in my reply below.
Ok, bought calls on natgas. We shall see!! I’ve watched your energy charts for quite awhile, Mark, and believe you are onto something. So loaded up on some cheap calls. Who woulda thunk it? Now move, baby, move!!
I started buying individual stocks in the nat gas sector back in Dec after deciding it was good risk/reward period as a long term position. Turns out I was about a month early but nonetheless my holdings are doing very well today and I see a lot more upside if you keep a multi-year horizon in mind. I’ll add a chart to the post that shows the Wolfe Wave and historic lows that I tried to enter at. Hope your options trade turns out well!
NG futures are spiking 🙂