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Thursday, February 05, 2009

Here we have natural Gas, I can't wait for my next bill to come so I can once again argue with the Gas company about how high the price they charge is relative to the spot price which is plummeting.

This is just a basic retracement in a trend setup. It is the simplest way to trade, just wait for trend to establish and enter trades on pullbacks. Based on a few things I watch, I think this pullback is going a bit further so I am not going to short yet, but this market is definitely on my radar. Commercials also have heavy shorts on a relative basis which supports this from a fundamental standpoint.

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