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Analog Devices, Inc. Message Board

  • johnson4730 johnson4730 Feb 14, 2013 10:11 AM Flag

    30 minutes until NG report

    I am in a small position in DGAZ right now... I will have my hand on the trigger to buy UGAZ or DGAZ depending on which way it goes. Based on charts and price action its right on support, if NG goes under 3.27 then im buying more DGAZ, a lot more. if it races over 3.31 then UGAZ or on the sidelines until Friday.

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    • U.S. natgas futures rise early ahead of more cold weather

      Wed Feb 13, 2013 9:33am EST

      * Front month remains above recent 3-month low
      * Colder weather set to return late-week, next week
      * Nuclear outages running well above normal levels
      * Coming Up: EIA natgas storage data Thursday

      By Eileen Houlihan
      NEW YORK, Feb 13 (Reuters) - U.S. natural gas futures edged
      higher early on Wednesday, with prospects for increased heating
      demand from cold weather forecast to move back into consuming
      regions of the nation late this week and next.
      In addition, above-normal nuclear power plant outages and
      expectations for a large weekly inventory draw on Thursday were
      keeping momentum to the upside, despite still bloated storage
      and record high production.
      As of 9:23 a.m. EST (1423 GMT), front-month March natural
      gas futures on the New York Mercantile Exchange were at
      $3.263 per million British thermal units, up 3.3 cents, or just
      over 1 percent.
      The front month contract hit a 6-1/2 week high of $3.645 in
      late January after touching more than a three-month low of $3.05
      in early January.
      Forecaster MDA Weather Services called for warm conditions
      early but cold weather late in the Midwest in its one to
      five-day outlook.
      In its six to 10-day forecast, as well as the latest
      National Weather Service six to 10-day forecast issued on
      Tuesday, both called for normal or below-normal temperatures for
      most of the nation.
      Nuclear outages totaled 13,200 megawatts, or 13 percent of
      U.S. capacity, up from 13,100 MW out on Tuesday, 10,900 MW out a
      year ago and a five-year average outage rate of about 8,400 MW.


      ANOTHER BELOW AVERAGE STORAGE DRAW
      Last week's gas storage report from the U.S. Energy
      Information Administration showed total domestic inventories
      fell the prior week by 118 billion cubic feet to 2.684 trillion
      cubic feet.
      Most traders viewed the report as bearish, noting the draw
      came in well below Reuters poll estimates for a 132 bcf drop.

      While stocks are now 8 percent below last year's record
      levels, they are 15 percent above the five-year average level
      for this time of year.
      Withdrawal estimates for Thursday's weekly inventory report
      so far range from 130 bcf to 180 bcf versus a year-ago drop of
      113 bcf and a five-year average decline for that week of 154
      bcf.
      If withdrawals for the rest of winter match the five-year
      average, stocks will end March at 2.079 tcf, about 20 percent
      above normal, but 16 percent below last year, when inventories
      finished a very mild heating season at a record high 2.48 tcf.

      DRILLING DECLINES, PRODUCTION FAILS TO SLOW
      Baker Hughes data last week showed the gas-directed
      drilling rig count fell for the fourth time in five weeks,
      dropping by three to 425.
      But while the gas rig count is hovering not far above the
      13-1/2-year low of 413 hit three months ago, production has
      shown no significant sign of slowing.

      Producers have curbed dry gas drilling but the associated
      gas produced by more profitable liquids-rich wells has kept gas
      flowing at or near a record pace.

    • Summary

      Working gas in storage was 2,527 Bcf as of Friday, February 8, 2013, according to EIA estimates. This represents a net decline of 157 Bcf from the previous week.

    • oh its a conspiracy! Next stop 3.10.

      Hopefully nobody is holding UGAZ if you are youre taking a beating.

 
ADI
54.40-0.34(-0.62%)Jul 10 3:59 PMEDT

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