[UNG] update

In the backlink I modeled a lot more downside but that was meant to represent worst case.  Given what I am seeing of late, especially all the signs of cost push inflation at places like WalMart earnings where they called the loss of profits "an investment in labor".  It seems that people are tired of trading a full day of work for a measly $8 or $9 per hour.  Rising wages without rising profit to match is not going to be good for any low margin company and retail tends to be very low margin.  In any case, if salaries are going up then how much longer can commodities stay in the toilet?  Not much longer I reckon. 

So today's model represents a very plausible case even though I see some potential glitches in the count. Still, I think it could be a valid count.  This is like Glencore was: going straight down.  Look for the unicorn tail or the gap up and then buy into the first dip you see.  Don't hope for too deep a dip because once these reverse they reverse hard.  If you want more leverage and volatility, play UGAZ.