In a previous post on August 27, I mentioned that I started to take a small position in natural gas. Since then, the futures price for natural gas has decreased a lot, reaching now $2.5.
Sticking to my plan, to bet on rebound of natural gas price, I am adding to my current position in the United States Natural Gas Fund (UNG) at a price of $9.05 for an additional $2,500, bringing my total position to $5,000.
I have to admit that my heart is racing but that is probably a sign that the market is about to reverse in the next future. To the contrary, if you feel too confortable and relaxed when placing a trade, that's usually a bad sign.
I will buy an additional $2,500 of UNG if it goes lower to around $7.5 to $8.
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