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Mike's Free Mid-Day Analisis
Mon Mar 17th 2008
UltraShort Oil & Gas ETF on the Move
By Mike Paulenoff, www.MPTrader.com

As of this moment, the Jan-Feb lows at 34.69 and 35.52 represent a potentially major double-bottom in the DUG that has the power to thrust prices towards the 46.00-47.00 resistance (breakout zone). Initial resistance hovers along the declining 200 DMA, now at 43.33. Any weakness from current levels must hold 40.00 to preserve today's near-term upside breakout at 41.20/50.

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