NAT GAS BOTTOM?

There is a nice looking double bottom that appears to be in place and we may know soon whether nat gas is about to make a move higher short term. I'm using UNL which is the 12 month nat gas fund as opposed to UNG which is front loaded with near month futures and as a result has become a wasting asset and not wise except for the most nimble of traders. In fact UNL or UNG if used should be for short term players and not those who believe that nat gas prices are going higher in the long term. Back to the short term, weather is turning favorable and we could see a long overdue rally in here. First obstacles will be the moving averages which lie just above. Watching how a stock breaks through these lines marks the character and strength of the breakout so if it cuts through it fast; its saying there is a lot of buying power behind the move. Nat gas is up in the premarket this morning and above 4.00 on the nearby futures contract.

MLPS finished up yesterday by under 2 points. No news drivers so far this morning in the group. No upgrades or downgrades so far. Stock futures are down a little. Yields are a little lower on the long end. Gold and silver are down and so is the dollar. Its Friday everyone so lets get ready for the open which is 30 minutes away.