Here’s another look at UNG. You’ll remember that I had this in a post about Weinstein’s never to buy a stock below its 30 week moving average. This is a weekly chart. The volume is nothing short of staggering over the last three weeks. What I find interesting is that the close for the weekly white candle and the red candle was within one penny: 13.71 v. 13.70 respectively. Am I suggesting that it is a bottom? I might be—but more importantly, the subsequent stock action would be a better tell—to confirm rather than guess. I’m already in, but at a favorable entry. Accordingly, I’m not a seller here.
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