Monday, May 11, 2009

UNG - Channel Breakout

- Opened position UNG June $18 Calls @ $0.9
- Will add if holds >$16.
- Target or exit @ $18 or better...will see.

Mega volume possibly due to short covering or insitution buying. Nat Gas unsdustry been hammered for the longest time. Broke above channel with significant volume. I missed the first moves but entered at consolidation. Will see if bullflag formation manifests itself. If so, will add 2nd position.

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