Nice shot, but I agree about the location of the balloon. For example, I've cropped your photo so that it is vertical and has the ballon in the top third. I find this a little more interesting--especially as the portrait orientation implies height, to me.
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gubbs.smugmug.com
toprowphotography.com
Looks a little over-processed in contrast (balloon looks half black)... did you do any editing to the photo, or is that the way the camera took it?
If you did do contrast edits to get the clouds nicer, you should mask out the balloon and go half-way on the other layer.
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