[Update 6.38pm 03/10 - Added a fib retacement chart]
Based on my trading chart this ETF has reached the edge of the Selling exhaustion Zone. I could see this returning to around 68.00. Chart below:
Also we have retraced 61.8% of the rise. This gives a good stop (just below the 61.8% line) if you go long.
I remember I saw a chart like this one long time ago and I thought we are done selling at these same levels. Uh! Couldn’t think it can go lower but guess what? It did. It was UNG.
BTW – Congratulation on the off-shoot “Bull dress” site. Are you feeling a bear remorse or just trying to fool the bulls away?
UNG sucks – bad investment vehicle.
This is my Devils advocate site – I put this site together to try and become more balanced. I did enjoy doing the banner and putting together the icon though. Mentally I am so bearish I feel I am not able to trade properly anymore and I’m hoping that forcing myself to taek an oppossing view will help me. I still remain a bear and Dow 1,000 is still where I see us in 2011. Saying that Sugar and nat Gas could easily go up as the market collapses.
I see. Can’t blame you after all the beating the bears have been taking. BTW, you bull has three legs!
3 legs – maybe it will fall over
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