Cacca State of the Nat.... Gas

NG (Natural Gas - NG, Nymex) - UNG (United States Natural Gas)

NG, is it oversold or undervalued at $ 3.238 (Friday, Aug 14th closing price)?

2001 Recession http://futures.tradingcharts.com/old_hist_NG20023.html

1. August 2001, NG did break the $ 3.00 benchmark southward;
2. From January to March 2002 hanging below the $2.50 (2.30 - 2.50);
3. From March to September 2002 in the range of 2.60 - 3.70;
4. in July 2008 it topped the $ 13.00 when Oil was at $147.50 http://futures.tradingcharts.com/hist_NG.html.

Two weeks ago, I was very comfortable with two entry price targets I have contemplated: $ 3.30 and $ 3.20 which for me are still okisho.

However, going back to my advanced monkey analyser calculator which is a kinda of a derivative for the most progressive ASC methods and taking all circumstances into consideration (speculation, dirty specualtion, flush and flash trading, US dollar strength, the road to recovery, etc..) I found out that it is not farfetched to see a new bottom at $ 2.82 - 2.85 before bouncing back to $ 4.55 - 4.80 by December 2009. Of course if I want to go LONG on NG, I would never advice myself nor any of my stubborn followers to wait for such dream to come true. Catch it if you can tho.

UNG @ $ 12.49 (Friday, Aug 14th closing price) - 52 weeklow $ 11.91 on July 13th 2009

On April 23rd this year, I bought UNG at 13.98. Few hours later I sold it at $ 13.6405, a loss of a 2.24%. A real disaster. This time, I will be waiting it to double bottom (don't ask me what does it mean). Hence, not thinking of buying before it breaks the $ 11.22 target and possibly the $ 10.71 further down the road.

Ciao, buonanotte e chi si e visto si e visto.

PS.: Please don't listen to the above nonsense.