Friday, May 21, 2010

Natural Gas - Update


I bought some natural gas this morning around the open. I'm not too happy with the way UNG closed but I view this as a pullback.  I was hoping for a strong close today at which point I was going to add to my long position but that simply did not happen.

My trading strategy is clear and straight forward. If the UNG breaks below 6.60, I dump the position. On the other hand if UNG trades above Thursday's high I will add to my position. Simple enough? Let's see what happens next week.

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