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Scaling Into the Natural Gas UNG ETF

Commodities / Natural Gas Jul 23, 2009 - 03:29 PM GMT

By: Mike_Paulenoff

Commodities

After this morning’s marginal new recovery high at 14.00, the U.S. Natural Gas Fund ETF (NYSE: UNG) reversed to the downside in reaction to “in-line” inventory data, which pressed indices to an intraday low so far at 13.25.   We initiated a 25% long position in our model portfolio at 13.32.  If the UNG is unable to consolidate and lift off from the 13.30/25 area, then I will be looking for another loop down towards 13.00, where we will add another 25% long position.


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By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of

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