UNG Update

*** I'm getting more emails today than normal for a Monday, I'll try to get to them as I realize they are very important to each of you, but my first priory has to be to the group. 

Luckily the new website will relieve me of about 25% of administrative work that I need to do now and should allow me (based on the number of refunds I've had to give to new members signing up, but I have no space for them as we are limited as a private site on the Blogger platform) to hire some help. We have been growing at 35-40% a year (I never imagined the site would reach the maximum potential of available slots using the Blogger platform, but we shot past it early this year).

The idea is that the new site will add a lot of user-functionality such as profiles allowing you to chose the data the is sent to you and in some cases how as well as a number of other personal preferences you'll be able to chose in your profile unlike the current site.

In hiring some extra help, one thing I'm looking to add will be an "800" number so I can more effieciently deal with member questions, for current members who have been with me and are current when the new site goes on line, this will be free of charge, for new subscriptions after the launch, the monthly rate will be higher as well individual services such as "800" access will be billed A la carte and will also be limited to a few calls per week. I have to increase rates, but this is my way for thanking those of you who have been with me for a long time (or a short time, just as long as you are current when the new site takes over).

The point, email response will be "as I can get to it today".

UNG...

 The above is a daily chart for UNG with our VERY simple, CandleStick Concept.

In yellow we have a well formed Harami reversal pattern (to the downside although this pattern depends on the preceding trend). The probability for "Well formed" candlestick patterns goes way up at reversal points that see higher volume (I suspect for tops the volume is churning and bottoms something similar, but including head fake or shakeout moves such as we saw in UNG last week).

In red we have increased volume on no particular candlestick formation, but it is a clear gap below support which triggers stop orders. In Orange we have high volume, but a VERY poorly shaped "Hammer?" It really is not a hammer or anything else so it's not a high probability reversal.

In Yellow to the right we have a well formed hammer on higher volume, this is a high probability reversal pattern.

 Intraday Friday we have a leading positive divergence in to the close, today we have a leading negative divergence in to the gap up, I suspect this is a simple pullback only.

 The 10 min chart shows the accumulation in 3C right at the area the hammer was formed on the daily chart, the intraday chart shows a clear stop run as volume spikes  and it is clearly accumulated, the easiest way for smart money to accumulate without anyone taking notice.

There's a very weak relative negative divergence today, vs the previous signals so again, I suspect a healthy consolidation/pullback.

The 15 min chart also shows the accumulation at the stop run that formed the daily hammer.

So we can see the probabilities of well formed candlestick patterns on higher volume and we can see the mechanics that have caused the higher volume in this case.

***Not yet, but I would consider UNG a high probability add to or new long position as this pullback starts to draw to a close, we should see intraday 3C signals show healthy accumulation as we draw near an end to the pullback, THAT'S WHEN I WANT TO ADD OR CONSIDER OPENING A LONGER TERM LONG POSITION OR CORE POSITION.