Friday, June 4, 2010

Natural gas overcoming crap open

Interesting and pleasing. I got up at 2 am Hawaii time, turned the alarm off and went right back to sleep. I deserved a good whack in the head for that, but until I get more than 3 hours of sleep, my body will not cooperate.

Fortunately, by the time I jumped out of bed, it was 3:20 am, just 10 minutes before the opening bell. Though premarket turned into a shambles thanks to a hapless jobs report (2:30 am Hawaii), my little position in UNG was down just a fraction to 7.97, 4¢ below my entry point late yesterday. That was good enough to let go, but when the bell arrived, UNG inched higher and is now at 8.06 despite a bloody red open.

The nat gas sector as a whole opened lower, but has reached higher. Some, like UPL and CHK, are just below yesterday's closing prices, but UNG remains an exception, at least for now.

President Obama is speaking now. Biden at his side. How the two of them could talk up the jobs report on Wednesday, who knows? It's turned out to be nothing more than (temporary) census additions, really. It's more neutral than a blowout.

AAPL opened at 258.21, sold down to 257.10 and is back up to 260 now, zooming up quickly.

No comments: