17Nov11:20 amEST

Natty Gas Burglars Strike Again

IMG_3239 The long natural gas idea from over the weekend is coming to fruition, as we can see natty gas bulls stealing away the initial at major horizontal support (purple line) on the daily chart, below. Note that the recent pullback could easily have made a major higher low before the natty rally resumes. I like what I am seeing off the opening gap higher, and am close to pulling the trigger on the UGAZ levered long ETF on any more strength today, with what would be a tight stop below $21.60 on UNG to avoid a gap-fill lower. As we know, a supposedly cold winter is on the horizon. Further, natty had beed very depressed for years on end, which means surprises could easily be to the upside from here. ________________________________________ UNG

Late Night Strategy for Mond... Chess Moves

 
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