The crude oil etf, ticker USO (chart above) shows an interesting development. Could crude rally and kiss the broken trend line from underneath?
Which then leads me to the Natural Gas etf, ticker UNG (chart above) which also paints a very interesting picture. Which stands in stark contrast to the crude chart.
I am inclined to get long nat gas and short crude in equal dollar amounts but am hesitant to chase this trade today. Especially so in light of the fact that Exxon buying nat gas player XTO Energy for north of $40 billion.
Long Natty/short crude? I will chew on this idea a little over the next few days but yes.... long natty, short crude seems like a decent trade.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
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