It's Good to Digest This Gas

After selling the remainder of my UGAZ (triple-bullish ETF for natural gas) long yesterday, in front of this morning's inventory report for the commodity, I am perfectly fine with allowing natty to digest its recent gains. 

The pertinent issue, of course, is whether natty does, in fact, set up again, or instead gives up the ghost of this week's rally only to roll back over for another heartbreaking slide to fresh lows. 

On the UNG daily chart, below, as long as $13 holds below the overall thesis is intact. Still, I would prefer to see a multi-day bull flag over $13.50. 

Elsewhere, I am likely to lay off the bond short again until after the Fed Meeting next week. And MBLY is doing a solid job holding onto its breakout, as per my morning blog post.