Saturday, February 19, 2011

Natural gas ETF

Well dear readers, your favorite blogger (for those of you who are new to the blog and dont know it yet, that's me ;) is back after getting married. Having been out of touch from the markets for a while, I started by doing an industry scan to get an idea of the broader picture and see which industries were setting up well. That's how I came across the following chart, which I admit has snuck up on me. Natural gas index has been in a sweet uptrend ever since it bottomed in August and has been moving in a nice well defined channel of late. Strong support at the lower trendline which is also joined by the MA(20).

One way of playing this is FCG - the natural gas index ETF. Notice the bullish volume pattern in the last few days.

Also like the way the Brokers and Networkers are setting up here. 

Take care and good luck!

P.S.: Here is a watchlist for tomorrow as well as some short squeeze candidates.

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