Leave Off the Last Z for Savings; Chess Moves

I hope you can see why I am so careful in playing the levered ETFs like UGAZ, judging the action this morning after the inventory report. UNG could not hold the $14.90 initial upside breakout level earlier this week, and now UGAZ is getting pounded as the triple-long natural gas ETF after the inventory report this morning, down more than 13% as I write this--You simply must be a sniper when playing these instruments. 

As such, I opted to go long UGA yesterday, the gasoline ETF, in effect leaving the "Z" off for savings. 

Gasoline saw a nice move higher immediately after I bought UGA yesterday at $36.63. Into this morning's push higher, I sold half of my small position above $37.80. 

I also sold my BTU long at $7.71 from my $7.80 entry for a small loss. The coal name did not get going the way I was expecting it to right away. So I'll take that small loss and move on. 

And I sold the SQQQ long at $25.07 from my $25.27 entry for a small loss as well. Taking a series of small losses is part of my strategy as a trader, in order to make the big wins worthwhile. The Nasdaq dip-buyers are still out there in charge. So I will take off the less-than-1% loss and see a reentry at a later date. 

As it stands, I am long AKS and UGA.