Gas 12 August ’09

Still bullish on gas, great risk reward at these levels…

Long UNG  12.72, stop  10.9 , RL2.0.

EDIT:  31/08/09  stop hit  (-1.82)  -2.0%.

Gas 20 July ’09

Still bullish on GAS, looking for UNG to bounce of the rising TL near the 50 fib at 12.80, and move above the 12EMA on the short term charts.

EDIT:  22/07/09  Unfortunately I had an order at 12.75 that did not get filled, and price has now jumped up near 14.00.  Will wait for another good size pull back and have another look then.

Gas 09 July ’09

Gas is looking very cheap at these levels, the decline is starting to reduce every day, and today has just broken a descending TL, and moved above support/resistance at 12.30.

Potential to move back up toward the TL on the Daily around 15.

Long UNG 12.39, stop 11.5, RL2.0.

EDIT:  20/07/09  stop hit at 13.00 (+0.61)  +1.37%.

Gas 05 June ’09

Long UNG 14.85, stop 13.30, RL1.0.  Scaling in to position 1% now 2% if price moves down near $14 or lower, but stays above blue TL

EDIT:  09/06/09  Added to Long position at 13.85, stop 13.3, RL1.0

EDIT:  18/06/09  Closed 14.85 position at 15.43  (+0.58)  +0.37%.

Looking to continue building position from below 14.00.

EDIT:  22/06/09  Protective stop hit at 14.70  (+0.85)  +1.54%.

Gas 27 May ’09

Long – Ticker: UNG Price: 13.686 Risk level 5 – United States Natural Gas Fund.

EDIT:  29/05/09  UNG stop in at 14.00.

UNG hit very oversold conditions, on the short term charts, all commodities have been going up alot, and Gas seems very undervalued. Marc Faber was on Bloomberg stating this very obvious fact, which made me look at the chart, with an obvious stop level at the low 13.29 and 12.69.,  worth the risk. Unbelievably the very next day price has shot up on big volume. A break of descending TL (blue line) would be very bullish, and a good place to increase position, or take profit depending on reaction.

EDIT:  03/06/09  Closed UNG at 14.18  (+0.494)  +6.23%.

Gas dropped very fast today along with all commodities, closed trade after break of rising TL.