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Tuesday, June 16, 2009

Charting the Trades

Here are a few charts, and the reason I got back into BNI, PWR and SQM at today's levels.

First... short Oil and long Nat Gas. I plan on covering the trade when the ratio is about 15, so says the chart.

The 50 SMA, and the surrounding area (low 15), looks to want to act as support. This would suggest Nat. Gas to move toward high 4s/low 5s, and Crude to move to high 60s.

Individual charts suggest the same...

A look at the charts of BNI, PWR and SQM indicate, IMO, to be a good initial entry.

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