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MIKE PAULENOFF'S ETF TRADING DIARY

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Mid-Day Minute for Wed May 7th 2008 RSS

Wed May 7th 2008
Anticipating a Top in Natural Gas
by Mike Paulenoff, www.MPTrader.comAnticipating a Top in Natural Gas
By Mike Paulenoff, www.MPTrader.com

Please Note: This will be the last Mid-Day Minute until Monday May 12 as Mike is away on Thurs & Fri May 8-9.

I am anticipating the establishment of a meaningful top in the U.S. Natural Gas Fund ETF (AMEX: UNG) in the vicinity of 53.00-55.00 in the upcoming days/weeks. Both my pattern and momentum work indicate that such a top is in development at this time, but that does not preclude the UNG from climbing to marginal new highs above 55.06 during the process.

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