UNG and EIA Nat Gas Report

The EIA Natural Gas report just came out...

Released On 8/9/2012 10:30:00 AM For wk8/3, 2012

Prior Actual Weekly Change 28 bcf 24 bcf There was a 24 bcf injection on expectations of 30. UNG's response...

 Nice...

The last UNG Update was Monday the 6th in which I thought UNG looked good as a new position or add to.

It seems the 3C timing on that one was right on. The next post I opened a Call position in the Options Model Portfolio, September $19 Calls Here's the UNG updated charts... UNG is now back above resistance, it needs to see a spike in volume to kick start stage 2 mark up, this is where stocks most typically trend and where the easiest money is (tops and bottom being the most volatile). As a core long, UNG in the Equities model portfolio is now up over 22% with no leverage! The 15 min chart and reason I liked UNG Monday as a long as a positive divergence developed on the pullback, exactly what I like to see, letting the trade come to you on price weakness and underlying strength. Thus far on an intraday basis, the move up is confirmed.