jamison.gaddy

bulls attempting to absob supply $UGAZ $DGAZ $NG_F

AMEX:UNG   UNITED STATES NATURAL GAS FUND LP
40 0 0
Bulls are attempting absorb the supply evidence by the higher lows present. The theme remains that demand exceeds supply.

Given that prices closed on support I believe a LONG entry is reasonable with a "tight stop" as shorts are buying into resistance.

I believe we are seeing strong hands maintain their positions while new entries respect that they are chasing while a few shorts sneak in.

I still don't feel rushed to enter carelessly into the "widow maker."

My re-entries are noted below.

Good Luck!
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