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MPTrader Mid-Day Minute
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| Wed May 7th 2008
Anticipating 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. For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary. |
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