Good Energy, Bad Energy

Although crude oil may still be bottoming here, it sure is a sloppy process and USO chart, second below on the daily timeframe for the crude ETF. You can see the weakness today, even though as I write this some latecomer shorts may be getting squeezed. Still, I am more inclined to return to natural gas as a long, which you can see on the first daily chart, below. UNG is recapturing $22 today after a sharp shakeout in recent sessions. I sold my UGAZ leveraged long ETF last week, but am still considering a reentry, more strongly now that UNG is back over $22. Regarding equities, I have been laying off any new shorts and any index shorts, especially the Nasdaq, with large component AAPL grinding higher each day. However, AAPL is red today and if there is some actual downside follow-through, for a change, I will be more amenable to shorting.