Economic data to watch for this week and averaging down nat gas position.

Today the Institute for Supply Management  reported a slowdown in service sector growth. The ISM said its index of activity in the service sector fell to 53.8 in June from 55.4 in May, although a reading above 50 indicates continued growth in the sector.

Tomorrow, we see other data to confirm a slowing US economy. Before markets open we see  MBA Mortgage Applications and  ICSC Retail Store Sales, then a 1/2 hour into trading we see the Redbook Chain Store Sales,

On Thursday, we see Monthly retail same-store sales,  Initial Jobless Claims, and at 10:30 EST EIA Natural Gas Inventory and 11:00 EST EIA Petroleum Inventories, then in the afternoon, Consumer Credit

I will monitor the UNG price in the morning and likely change my order to a market from the $7.75 open order (that I mentioned last week). I almost was filled today but missed by a few pennies. The heat wave in the eastern seaboard will likely help reduce the nat gas inventories over the next few weeks (via increased air conditioner use therefore increased demand on nat gas fired electrical power generation) and the hurricane season might be an active one this summer (ie. rig shut downs in the Gulf, reduced supply). I think nat gas will be volatile and maybe I can convert my losing position of 2009 into a winner if I am nimble.