Well I'm getting overweight in UNG. To date I have 2 positions in this natural gas play: 200 shares and 7 Oct 16 09 CALL Options averaging around $2.3 per contract.
I still think that money will eventually flow back in violently into this beaten down energy. Yesterday the stock gapped down but rebounded off the intra-day low at the close. Today the stock is fighting to break up and begin a run off support. It seems that everyone is bullish on natural gas. I'm comfortable holding this stock especially towards the end of the year when we see the seasonal energy shift...
Otherwise not much to do today. Private sector employment news today didn't seem bad enough to stop the fund managers from finishing off their window dressing.
Don't listen to me... UNG fell through it's uptrending support and almost retested it's low. I still have my Oct calls. My 200 shares sold out at $13.2 for a 8% draw down. I will hold my thesis and wait patiently through the volatile pain using my time premium.
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