UNG Call Leads Huge Trading Week (6 Winners out of 7)

On May 31, Mike pointed out that the U.S. Natural Gas Fund ETF (UNG) had broken out of its Jan-May down trendline in the vicinity of 6.75.  He  noted there was still heavy resistance to surpass in the 7.05 to 7.45 region, a move through which would confirm a near/medium-term bottom.
 
Mike added UNG that day as a trade set-up at 6.86 with a target of 8.  The next day the stock gapped up to 7.13 and reached as high as 7.90 on June 9.
 
The trade was one of 6 winners for Mike out of 7 since Tuesday, including:
 
-- WLL entered long 6/01 at 12.20... Exited 6/07 at 13.77... +12.9%
-- UNG entered long 5/31 at 6.86 ... Exited 6/08 at 7.49... +9.2%
-- SLW entered long 6/03 at 19.97... Exited 6/08 at 21.27... +6.5%
-- CHK entered long 5/24 at 4.00... Exited 6/09 at 4.69... +17.3%
-- LNG entered long 6/06 at 33.73... Exited 6/09 at 37.23... +10.4%
-- UNG June 17th 7.50 Call entered long 6/08 at $0.17... Exited 6/09 at $0.44... +159%
 
A huge trading week indeed!


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