Today in pre-market trading I managed to take a favorable position in DGAZ. Analysts over the weekend called for an even warmer than previously predicted winter, and more doubt has been cast on the possibility of an OPEC production freeze. Storage reports aren’t out yet, but there are already significant number of bearish signs for the price of natural gas. My entry price was at $7.55, and I don’t plan to exit until at least $8.00.
My initial exit price was at $7.50, but I moved it up to $7.64 to ensure some profitability from this position even if the worst happens. Overall I am very pleased with this position, and may continue to choke up my exit price if conditions improve.