Run Silver Run... PAAS on fire...
SLV took out key $14.78 resistance, now we need to take
out the June high of $15.78.
Fwiw, I took off 1/3rd of my PAAS (up+10% today), but letting
everything else run to see if we can take out $15.78.
Still like Silver over gold here.
Silver was setting up nicely and we finally got a nice
technical breakout ie:
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Message 25899606
Message #18998 from SliderOnTheBlack at 8/28/2009 12:03:54 PM
We need SLV to break resistance at $14.80 and then the
$15.78 June high, and then... to the moon Alice!
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Also, I couldn't resist the temptation.
UNG: Any more gluttons for punishment?
We got a couple of rolling wave trades from
the $12's to $14 for UNG in July.
And then a hard & fast 5% stop out on the re-entry here:
Message 25879284
The stops did what they were designed to do, but once
again UNG is getting hammered on CNBC talking points
about the UNG ETF premium.
And today, with Oil up, and the dollar down, I'm game.
We've got a couple of bucks of profit to play with from July,
but this time will re-enter initially with PUT sales.
Fwiw, I'm selling the Jan. 2011 $10 PUTS for a phat $2.80-$3
premium, and we're buying 16 months of time to be right.
The entire discussion on the ETF UNG is a bit misleading
imho. First, 95% of traders don't trade futures. Second,
UNG is an ETF and GAZ is an ETN. Third, UNG offers superior
liquidity (especially pre/after market) and options. It should
trade at a premium in this environment.
And Natural Gas, UNG & GAZ are actually tracking pretty
closely here.
Let's see if Don Coxe's theory comes true...
"The time to buy is when,
those that know it best,
love it least,
because they've been
disappointed most."
And UNG is cheaper to Oil, the XNG E&P stock index, Gold,
the CRB commodity index, and the S&P index, than any time
since it's inception.
Plus, lot's of short interest here, when it pops, it's
going to be big... when, not if...
Love that $3-ish premium on a $10 strike and 16 months
to be right.
Sell the JAN 2011 $10 put.
finance.yahoo.com
SOTB |
