yeah so, I'm happy that it pulled back like that, the point is,
that last bounce was a 4th wave as Steve and I suspected, so it
needed a 5th wave pullback which it got. Don't trade it
then. Otherwise IMO it looks better now than it did last
time, but yeah otherwise UNG is generally a bi#* to trade, pardon
my french and most pro trades I have heard from will not touch
it.
UNG trade idea
Posted by matt on 13th of May 2010 at 01:21 pm
UNG - natural gas ETF, I hate how this thing trades, it appears to have a better bottoming pattern now, maybe that last low was some kind of 5th wave
UNG chart
UNG
Posted by dylan398 on 18th of May 2010 at 08:53 am
is gapping above resistance...I took some home last night....not enough though
matt..from memory last time this was on the watchlist it fell 8% in a day..STOP looking at it..move on man!..it is a beast and YOU KNOW IT!
Posted by hurricanemalta on 13th of May 2010 at 01:25 pm
yeah so, I'm happy that
Posted by matt on 13th of May 2010 at 02:29 pm
yeah so, I'm happy that it pulled back like that, the point is, that last bounce was a 4th wave as Steve and I suspected, so it needed a 5th wave pullback which it got. Don't trade it then. Otherwise IMO it looks better now than it did last time, but yeah otherwise UNG is generally a bi#* to trade, pardon my french and most pro trades I have heard from will not touch it.
Matt..you always say don't get emotional and I sense that with UNG you want to get even and that seems emotional to me.My UNG is SRS!
Posted by hurricanemalta on 13th of May 2010 at 02:35 pm
aside from a couple of
Posted by Palladin on 13th of May 2010 at 01:44 pm
aside from a couple of specific company stocks, I have never been succesful trading ANY nat gas etf
i got stopped out of
Posted by 1800promote on 13th of May 2010 at 01:54 pm
i got stopped out of my UNG position on that last low..so probably that was the bottom..:)