Natural Gas

I took on 2 plays on Nat Gas . Yesterday I bought 2000 shares of NGAS at $2.4 yesterday for an account I manage. Before the market closed I picked up 3 UNG calls for $2.7 for another account. It appears that the bottom that was put in at the end of April was not tested/violated and the higher low of 13.29 (some would say a double bottom) acted as new support. I'm betting that this trend will be confirmed and that natural gas moves up as other energies (i.e. oil and coal) become expensive and fulfill their potential. Either way I think nat gas is attractive long-term at these levels.