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RRC

E-cutieAll year EQT, an unloved natural gas producer has been a swing trader's paradise. I've harvested so many gains from these E-cutie trees I thought I'd make a thread just for it and post trading updates. The macro technical picture is clear. Years of being battered by shorts ended with capitulation in 2020, followed by a swift rebound. Fundamentals are tightening. According to analysts, $25 is fair price for $2.50 NG price. Goldman Sachs has a $23ish target. Price action is showing signs of bottoming. It's lining up but this is much more profitable short term swings. Currently, price is building a base at previous long term support around $18. More downside is certainly a possibility given that NG prices look overvalued. But, EQT is in a channel and fundamentally undervalued. Investors might front run this sector as demand picks up in later in the year, in which EQT will likely be closer to $25. s3.tradingview.com Long EQT +200 @ 18.10
NYSE:EQTLong
by trade-God
$BOIL #NG Buy the dipI've been bullish and trading natural gas (BOIL EQT RRC) for a while now and recently sold on the last pump to 2.6 I'm reloading now, as I'm looking at a few things technically I like -Price appears to have found support on a flattening 20DMA , and will next watch to see if we start trending up - The low in May was higher than April , and almost forming a rounded base if we can sustain higher than May's low , it will be a good sign - Strong support at 2 putting in a triple bottom now - even if we go lower, in the longer term as long as we stay above 2 , your entry of say 2.15 won't really matter when we're at 5 ! - EQT and RRC are both flagging and keeping their gains so far, looking for more upside , which of course depends on NG but is providing bullish confluence .
NYMEX:NG1!Long
by FriscoTrades
1
Natural Gas - surges +12% to YTD highsNatural Gas surges +12% - lifting producers' shares to YTD highs Range Resources $RRC & other natural gas producers ripped to 52-week highs today as U.S. front-month natural gas soared to its largest one-day gain since Sept a year ago - closing at +12% to $5.898/MMBtu Today's settlement is the 2nd highest this year after the front-month contract hit $6.312 on 10/05/21 52-week highs today - $CHK +9.1%, $RRC +6.3%, $AR +5.7% Scoring big gains - $CRK +9%, $SWN +7.4%, $CTRA +5.9%, $EQT +5.2% #LongLNG
SKILLING:NATGASLong
by jnallain1
RRC | Cup and Handle Breakout Targets ~$34Traders... I’m not sure what’s going to happen with natural gas: additional supply-side constraints, increased demand for power generation and/or exports (looking at you Europe), storage depletion, a colder-than-average winter, continued decreased purchasing power of the dollar by increased QE, the realization by the masses that natural gas is the best “clean” power generation source, or whatever may come - but I do know that this chart is screaming higher prices. Let’s look at the three reasons below as to why this symbol/chart would be a solid investment: 1) Large cup and handle just broke out on the weekly - price target is ~$34 based on the break. 2) Using EWT, since wave 3 was less than 1.618 of wave 1, an “extended fifth” is possible, which gives extra merit to our target. 3) Placing a Fibonacci retracement on the last wave down, using the 0.382 Fib gives a target of ~$37. RRC - a screaming buy not to be missed out on!
NYSE:RRCLong
by Patchyq13
3
Buying long Cabot Oil & GasI've been watching this natural gas producer as it's one of the most productive gas producers with one of the best balance sheets out there in a highly beaten up industry. Their valuation is great despite some challenges in the natural gas industry, and they saw a huge selloff after worsened guidance recently. I'm now buying on this weakness. Here is why: Daily Demark 13 exhaustion was just triggered. These have a wonderful history of timing reversals. Oversold on RSI all time spans Oversold on bollinger band moves Just hit the very long term lower trendline that has existed since before the GFC. It promptly touched and reversed, showing that the market recognizes this as resistance. At the bare minimum, we're likely to see a reversal within the next few weeks, possibly after retesting the trend or consolidating around it. Combine that with very low valuations, an a product (natural gas) that isn't quite as economically cyclical heading into a potentially recessionary environment, and I really like the outlook here.
NYSE:CTRALong
by GTStockmaster
THE WEEK AHEAD: RRC, GDX, GDXJ, AND XLIIn spite of various media reports that "volatility is back," anyone who plays the premium selling game knows that it isn't in significant measure. Nevertheless, there is some uptick in volatility as compared to the post-election to March volatility lull, which was a slog to get through for premium sellers who look to capitalize on a high implied volatility environment. That being said, the minor uptick isn't providing candidates for picky premium sellers like myself, who look for certain implied volatility metrics to get into plays. High Implied Volatility Rank/High Implied Volatility Underlyings Currently, there is only one underlying that meets my >70/50 rank/implied volatility metrics, and it's RRC with a rank of 98 and a background of 55. It's a land-based oil and gas exploration and development company with an abysmal balance sheet, and it's less than an ideal options play for the impatient, since it only has monthlies to work with. Possible plays would be an Oct 20th 15 short put at the ~26 delta (neutral to bullish), which is currently paying .50 at the mid with a break even of 14.50 or a nondirectional: the Oct 20th 16 short straddle (neutral to slightly bearish) is paying 2.30 at the mid with break evens at 13.70 and 18.30 (I would skew bearish, since we've seen a bit of a Harvey bump in oil prices that is likely to recede in fairly short order) or a defined risk Oct 20th 13/16/16/19 iron fly (neutral to slightly bearish) with break evens at 14.22/17.78, a credit of 1.78, and a buying power effect of 1.22. Low Implied Volatility Rank/Low Implied Volatility Currently, XLI, GDXJ, and GDX all have ranks at the very low end of their ranges. The gold plays are really no surprise there, with gold having ripped up to 52-week highs on risk off sentiment and overall Greenback weakness. Ordinarily, these would basically beg for a low volatility strategy such as a 40 delta/same strike* calendar, but these will not be worthwhile unless you go multiple contracts due to the size of the underlying. Consequently, working something like a 90/30 Poor Man's Covered Put** might be more productive if you've got an assumption that risk on and/or Greenback strength will return at some point and gold will weaken. For example, the bearish assumption Oct 20th 24 short put/March 16th 33 long put Poor Man's Covered Put costs a 7.66 debit/contract to put on. XLI -- which I honestly have not played much, evokes similar setups ... . VIX/VIX Derivatives The first /VX future at >16 (north of where I like to setup up my VIX tent, generally) is currently in January (128 days until expiry). That contact was trading at 16.12 as of Friday close, but it's still a little too far out in time for me to set up a play, since I generally like these with 90 days to go or less. The VIX Jan 17th 16/19 short call vertical with a fairly generous break even at 17.75, is paying .80 at the mid, which is generally what you get out of these VIX term structure plays (between .65 and .85/contract). That being said, the Feb expiry is amenable to laddering out, with the 17/20 paying .77, so I may go ahead and put on a trade if I see little else going on next week, particularly since it's a rollover week, where there might be some temporary uptick in futures contract pricing as the term structure adjusts. With the derivatives (VXX, UVXY, SVXY), I'm looking for a short VXX/short UVXY entry or an SVXY long entry if the VXST/VIX ratio pops to 1.15 or so. With VXX/UVXY, this will generally mean a 45 days 'til expiration short call vert with the short call slightly in-the-money and the long aspect out-of-the-money such that the spread yields one-third the width of the strikes. With SVXY (an inverse), it'll mean the opposite -- a short put vertical with similar characteristics. * -- Back month long at the 40 delta strike; front month at the same strike. ** -- Back month long at the 90 delta; front month at the 30.
CBOE_DLY:VIX9D
by NaughtyPines