Monday, August 24, 2009

Natty

On my last post Natty had dropped back to 2.795 and is now bid 2.87
Talking heads are saying becareful no fundamental support of this rally
oil is now 26 to 1 ratio to gas-We got a little talked about report showing surge in electricity usage
and the storms are muted but like I said on Saturday the possibility has to be priced into the market. Technically a close above 3 would crack the down channel and set us up for a multiple day upward incline baring that 3 is a probably a profit taking spot for people who bought 2.75
region that I had given as the buy in SPot Friday today's buy in was not touched the 2.64 is a documented swing low dating back to 2002 stop should be inplacfe at 2.6