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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,405 Blog Posts

Is It Time For Natural Gas

RaginCajun Fri Oct 28, 2011 12:50pm EST 4 Comments

$UNG, the ETF that tracks Natural gas, is breaking out from a reversal pattern, the falling wedge. The ETF is now firmly above the 20 day MA, another bullish sign, and looks like it has a date with the 50 day. Looks like we have a bottom forming in Nat Gas.

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4 comments

  1. Indie
    Indie
    October 28, 2011 at 1:13 pm

    Seen that phrase too many times since 2009 : “Looks like we have a bottom forming in Nat Gas.”

    i agree nat gas bounce is overdue but i wouldn’t touch UNG. any suggestion on a sister play?

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  2. Scott Bleier
    Scott Bleier
    October 28, 2011 at 1:54 pm

    YES. GAZ.

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    • txchick57
      txchick57
      October 28, 2011 at 3:01 pm

      That’s even worse. Totally uncorrelated half the time. UNG is fine if you use options. They’re cheap!

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      • Tom
        Tom
        October 28, 2011 at 5:07 pm

        ECA is a good alternative with a nice looking chart – just breaking out and holding above the 50 day.

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