I would want to see a pullback and bounce before going to short on this. The move was based on today's natural gas inventory report, which showed high inventories.
Capitalism 101: High support relative to demand = lower prices.
The downside target on Persons' Pivots is $5.60.
Options as a Strategic Investment is a one-stop source of practical information, clearly presented, about the the trader's most important tool for managing risk. This book occupies an important place on my desk.
Disclaimer
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
New to private trading? Here's a look at How to Become a Private Trader.
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