Is 9 the UNG Bottom?
September 4th, 2009
It is very, very tempting to sell some UNG puts this afternoon. However, I’m not going to sell any puts until I see some of those short-term moving averages flatten out. UNG imploded far worse than I expected, but the market doesn’t care what I expect and UNG can still fall much further. If 9.00 does turn out to be the bottom then happy days.
I still don’t feel too much pain because my cost-basis is $11.52. I was put some UNG at 13 and 14 at August expiration and I still have plenty of cash to add to this when I’m ready.
UNG-Hourly