Long 2000 shares of UNG at $5.84

UNG (United States Natural Gas Fund) Hit an all time low on Oct 25, 2010 at $5.20 cents. Since that point it broke a downward trend line and made a higher low* of $5.39.


*It is good when stocks break a trend line and make higher highs, pull back, and then make higher lows. This shows that buyers are willing to step in at higher prices.

UNG has done just that. I am not willing to risk much on this trade so my stop is tight, only $0.08 (8 cents) off the current price. My target is $6.20 but it could go to ~$6.70.
(Click charts to enlarge)