UNG bottoming...

I got in UNG today @ 36.25 for a long term hold.... Largest volume ever for UNG, with 60 million shares traded this week... short term target is 45.

tb

Steel, Solar, and Finanical Short

I picked up TIE for a long term hold around 11ish a few days ago...It's finally breaking to the upside...and saw lots of call buying today... Could be a nice trade in the weeks ahead..As for X, I've been waiting patiently for X to fall around $120.. and we are near that today..with a low of $126.. I think the next $30 points will be to the upside..You could start buying here, and adding if it gets below $120...I also like the SKF, which is the financial short... I see $160ish near term...Oh, and solars could see a 10% pop soon, which will be the short term exit if the ETF, PBW reaches $22...

tb

STP Chart

Be on the profitable side...

So far, I am on track with X, and GOOG... they perform like clockwork each year. To the right side, I posted the projected direction, and timeline for each stock... I am getting ready for a long position in X once again... Its getting clost to $120, which is right about where I think X will settle... The dollar has been on fire lately, and we know that can't last.. so, with a pullback in the greeback, you should see X, and other steel stocks, regain footing...

I really like the action in the solars today.. I see the PBW at 21-22 before a pause..if the PBW ETF has not reached 21ish yet, buy on pullbacks...I like the charts of STP, TSL, WFR to name a few..

tb

This week - options expiration - XLE and MOO (UPDATE)

Just to name a few extreme OI...

POT AUG OI 180's (2k vs 9k)
XLE AUG OI 74's (15k vs 145k)

If I were short, I would cover here...

tb

UPDATE (8/13/2008):

I still see hits on my blog..thats good...my posting has slowed down a bit for me, due to work.. But the good news is, when I think a post is worth mentioning, I will post it, so keep checking back!

By the way, I love it when a plan comes together(sold some POT calls today), and all the while, I have not been studying the daily moves in the market.. I really don't know what the headlines have been lately..Or what the traders are saying.. Why did XLE rally today? I dont know, but I posted some lopsided options activity on Monday.. and I posted that around 69-70 was the bottom...So, for me, its no surprise that we bounced nicely..It was the perfect storm...

Personally, its amazing what perspective you can have on the market when you step away from it... Try it sometime... If you have been wrong trade after trade, step away for a while..Dont paper trade, dont read or watch anything related to the market..Seriously! It's healthy to get away once in a while! :)