Global Macro Perspectives
Natural gas in storage rose 2 billion cubic feet in the latest week. No draw I speculated about in the UNG post. Closed the UNG postition at small loss. Chart 1. Working Gas in Underground Storage Compared with 5-year Range
Bank of America announced that it will repay all bail out funds. Bloomberg link: Bank of America to Repay Bailout, Easing CEO Search. The stock is trading up 4% despite massive dilution. No comment. Initial jobless claims were reported at 457.000 vs. 466.000 and 485.000 consensus. Again falling steady. Bloomberg story: U.S. Jobless Claims Unexpectedly […]
I eagerly started my strategy series and invested opposite the same day. So much on strategy and trading having common points. The United States Natural Gas Fund (UNG) has hit new lows yesterday and I couldn’t resist taking a position. I bought ATM April Calls. Had to close FXY position (with a small profit) to […]