EIA Natural Gas Report / UNG

The 10:30 Nat Gas report came out this morning...

Released On 8/16/2012 10:30:00 AM For wk8/10, 2012

Prior Actual Weekly Change 24 bcf 20 bcf

It came in at 20 bcf on consensus of an injection of 30.

Here's the knee-jerk reaction

 Knee jerk...

 Daily range and the pullback.

 The 2 min chart

 5 min chart

 15 min

 30 min

60 min.

I have a very hard time not liking UNG long here, I'll have to see how I'm fixed on the position, but I do like it here despite the knee jerk reaction, however, this is a long term trade, it needs patience and a wide stop.