Friday, November 15, 2013

$LNG breakout

Hey everyone.

Been watching the action this week without a lot of positions. Yesterday was spent waiting to see where $LNG goes.  I have been in this name since the mid 20's and riding it the whole way. This is a very long position for me since it is my main energy play.

I watch yesterday for a break about the long consolidation channel it had been basing the last few weeks.  We closed above the resistance of 40.85 yesterday and it looks like in the PM we are getting that pop. I got in for more right at the close about the resistance. Going to watch to see if it can hold this pop. Lot's of breakouts have been turned away but the key is to hold about that breakout resistance with volume coming in.

Happy Trading!

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