What a drop here. I had made a post about UNG a few days ago and was very concerned about downside below 13.50.
Seems this one is a gonner. I will be watching it carefully at 12.80 for a possible entry with a tight stop. Other then that, more downside. You know what they say about 52 week lows - "it cannot get any lower then this!" - yes it can, look at financials.
I'm getting absolutely killed. I'm pretty worried how low this can go. I was going to pick some more up at 13's via HNU but I might wait and see if it'll go to your entry point next week.
ReplyDeleteyeah the 12.60-13 area is a great entry and should provide some support. Only dangerous thing is the overall markets. If we continue to drop (especially oil) it will be quite difficult to hold up at the bottom there.
ReplyDeleteGiven your comment earlier about a long entry at 899, do you still see a bounce going into next week?
ReplyDeleteI am pondering that one myself here (just made a new post about this). Will update soon based on the last 15 minutes.
ReplyDelete