Tuesday, September 23, 2008

Alert: UNG

I am looking at a one-year chart of the UNG. You can see the fantastic run it had last spring which we caught part of. Then vastly oversold it crashed and has come back to support it around the $35 area. The 50 day moving average (dma) is flatting out as if ready to turn back up, but stochastics are only at around 50%, but it doesn't matter the ETF has to be bought here. Don't get crazy we are just going to do 25 shares to start.

By 25 shares of UNG at $36.36.

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