Wednesday, May 9, 2012

UNG as a reminder

There are really only two asset classes or sub-industry groups that I lean bullish toward, I won't make the entire case as to why, but part of it has to do with new emission control laws that will make it virtually impossible to build any new power-plants in the US using coal, the natural beneficiaries are nuclear and Natural Gas. NG is one sub-industry group of energy that I favor as having the potential to start a new secular bull trend after having been beaten down badly. UNG performed well yesterday, today it's off to a good start as well.

 Volume alone on this 5 day chart shows a big change in character in UNG, especially recent volume.

After a nearly 4.75% gain yesterday, UNG is off to a good start today up over 2.4%

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