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Posts Tagged ‘UNG

Twitter Ticker ($UNG)

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UNG090707UNG trading was halted this afternoon, only to reopen lower a few minutes later, causing quite a stir on StockTwits. The hearings on commodity trading may lead to limits on speculator positions, but it isn’t a piece of trade worthy information, price is the only thing that needs to be followed.

The scenario I envisioned here – a new low made with weak volume – has come to pass, but due to general market weakness and a broad flight to safety, I’m not buying UNG at this level. Clearly the primary trend is down, and since there is no evidence of strength, my preference is cool liquid cash.

Plenty of smart folks on StockTwits are selling puts or adding small positions, but the burden of proof remains on the bulls. Judging by today’s market, UNG would have to rise 35% to make a bullish signal around 16.38. Given the decidedly scared and fragile market, such an outlook seems unreasonable for the time being.

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Written by chucklesamadeus

July 7, 2009 at 8:30 pm

Twitter Ticker ($UNG)

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UNG090611Interest in natural gas continues to bubble onĀ  StockTwits, but as Brian Shannon likes to say, bottoming is a process, not an event. Nevertheless, momentum appears to be reversing as the downtrend that started in July 08 begins to flatten.

A low volume move below 12.87 would really flush out the remaining longs and pave a way for a new bull market. Only time will tell.

UNG remains in a primary downtrend below a declining 20sma, so expect a bumpy ride and adjust your position size accordingly.

Written by chucklesamadeus

June 11, 2009 at 3:04 pm

Twitter Ticker ($UNG)

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UNG090528Today’s StockTwits chatter was dominated by the big move in natural gas. Down nearly 80% after falling for nine CONSECUTIVE months, UNG is beginning to show real signs of life. While it is too early to say the bear market is over in this sector, a new row of X’s and a monthly close higher would go a long way to improving the long term investment opportunity in this space. A target of 25 seems inconceivable, but stranger things have happened.

Written by chucklesamadeus

May 28, 2009 at 5:27 pm

Posted in Finance, Twitter Ticker, UNG

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