The weather is too hot, not UNG ?

So, technically the 8.9 support level is interesting to watch. If it would hold, I would buy speculative, only for technical reasons. Fundamentals are telling something else (demand will drop, gas storage in US is at an all time high).

Don’t burn your fingers !

20091111_UNG

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2 responses to “The weather is too hot, not UNG ?

  1. hey,
    are you talking from agenda?
    what if UNG will rebound to $12, then you will say $18 on the way?
    what if weather forecast in 10 days will be colder then average what then??
    crisis between russia and aucraina? crises with iran? many factors could change your fundumental!
    what if storage will start to drop as we predict?

    • Hey, a rebound to 12 could lead to 18, if it breaks that resistance, if combined with news (fundamentals – some crisis like you say)

      And yes, fundamentals can change. How I see it now is a lot of fuss about oil, still less about gas.
      And the focus for more environmental-friendly solutions is not on gas.

      So, for the close future, I only play technically on gas, and follow the news. As I do with all stocks (I am currently a short term -weeks per trade – investor. I do not believe economy is ok.)

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