I closed my Natural Gas short position this morning as Horizons BetaPro NYMEX Natural Gas Bear Plus (HND.TO) tested \$7.40 support on notable volume. Figure 1 shows the intraday chart of HND.TO at the time of my exit.
[caption id="" align="aligncenter" width="570" caption="Horizons BetaPro Natural Gas Bear Plus (HND.TO)"][/caption] HND.TO touched \$8.60 last week while I was away. So I am not taking any chance for this position to go negative. The net gain in this is \$25 after \$10 commission, which is essentially breakeven from my \$7.25 purchase price a couple of weeks ago. Looking at the daily chart of Figure 2, it seems that natural gas is in consolidation mode. I will be watching the channel as drawn on Figure 2 for another chance to short it via HND.TO later. [caption id="" align="aligncenter" width="570" caption="Horizons BetaPro Natural Gas Bear Plus (HND.TO)"]1[/caption] As of this writing, HND.TO has drifted down to \$7.14 at the close. I am watching to buy back my shares of HND.TO at \$6.50.