NGLS trade for 12/7/15

Posted By JM on Dec 7, 2015 | 0 comments

Oil and natural gas were extremely weak today as WTI fell through the $38 level support levels. We were eyeing #NGLS and #TRGP as possible bounce plays considering their daily charts had extreme 2 day downside move of almost -15% each day in relation to other energy related stocks.

We picked some up starting at $14.52 and continued adding on the way down with confidence. The tape showed buyer(s) stepping in around the $13.50 level and so we addded heavily to the position there. NGLS bounced and we took profits on the way up = great patient long trade in the MookTrader chatroom!


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