Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Natural Gas and BOIL Meet Next Upside Target


The "mysterious" vertical advance in the ProShares Ultra Long DJ-UBS Natural Gas (BOIL) since last Thursday’s large build in inventory continues this morning.

Another thrust has propelled the BOIL to 56.00, which happens to be the highest of my current upside projections off the Aug-Sept base pattern.

While meeting this target certainly in no way indicates the BOIL cannot, or will not, continue to rocket right up to test the July 31 high at 59.72, my technical work does suggest that holders of long positions lighten up around current levels.

Otherwise, stops in the BOIL can be raised from 50.88 to just beneath today's low of 52.88.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!