The oil and gas stocks have become pretty crowded trades. I’m not saying they won’t continue upward with real oil and natural gas prices, just protect your profits on these stocks.
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2 Comments
February 28th, 2008 at 6:49 pm
As I mentioned a week or so ago on the RT blog….UNG (natural gas) was technically set up for a breakout. Chuck provided a good chart showing the resistance. Well…today the break-out happened. Huge pop in UNG. I will just continue raising my stop on this monster. Looks like very little overhead resistance now.
Overall..great day today. My two holdings (20% QID, 20% UNG) both fared well.
February 28th, 2008 at 9:25 pm
Yep, you and Chuck called it. Good job!