Bought 250 HND.TO @ $6.51

Update: I closed this at $6.36 just now as my HOD.TO position is trekking back close to breakeven. This is a loss of $37.50 + $9.90 commission.

I re-entered my natural gas short with HND.TO @ 6.51 as planned on my previous break-even trade. The U.S. Natural Gas Fund (UNG) is testing the top of its channel at $7.85 as shown on Figure 1.

U.S. Natural Gas Fund (UNG)

However, HND.TO cracked the $6.50 support as I’m writing this and is now trading down to $6.38. My mental stop is at $6.20 and hard stop is $6.00.

Figure 2 shows the intraday chart of HND.TO as the time of my entry.

My risk for this trade is ($6.51 – $6.00) * 250 shares = $127.50 = 1.4% of my RRSP trading account.

This should be the last of my new position for a while. I have enough on the table with my CM.TO, HOD.TO, and this. My goal now is to move my stops to breakeven as soon as possible.

Horizons BetaPro Natural Gas Bear Plus (HND.TO)

Related posts:

1. Bought 380 HND.TO @ $7.25, Stop 7.00
2. Bought 250 HOD.TO @ $11.11
3. Sold 380 HND.TO @ $7.35
4. Bought 250 HOD.TO @ $10.92
5. Bought 250 HOD.TO @ $10.34