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NATGAS FUTURES AND ETFs (#BOIL, #UNG)

With US #natgas trading at 2.5y low and wek fundamentals, there is a big growth in positions in gas ETFs: #BOIL (2x levered) and #UNG.

Is it driven by retail bottom pickers? The real story is more complicated. Here ft.com/content/b527f4…twitter.com/i/web/status/1…
For UNG and BOIL we can also see the increase in the share count and market cap ahead of the roll.

What could be the motive for a professional fund to short ETF, instead of doing the same trade via futures?

Aside from mandates/simplicity a fund might expect the ETF doing… twitter.com/i/web/status/1…
Does it matter if the shares are created to satisfy the demand of the short sellers or on demand from bottom pickers (longs)?

I believe it may since the effect on the final futures position could be different:
•When ETF is created in response to demand from the long side (e.g.… twitter.com/i/web/status/1…
Read 3 tweets
Today in the markets
$SPX
An unexpected rally pushed #SPX 50 points higher today on increased volume

We can say it was a successful retest or bounce from the 100DMA

It closed at 20DMA and is now in the "pinch". Tomorrow we'll know which side #SPX is going to come out on

#SPX Image
$DIA
Another rally on higher volume

Today closed above the 20DMA, somewhat bullish if it is able to hold that ground.

Big impulsive green candle, indicating further upside

$DJI #DIA #DIJ $DJIA #industrial $SPX #SPX
#DowJones Image
IWM rose on higher volume. It kissed the 100DMA today, which has offered resistance in recent days

It is still in the "extension" zone of its trend channel.
It needs to get back inside the main channel and break above the 100DMA

#IWM $RUT $RTY #RTY #RUT #options
#trading Image
Read 11 tweets

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