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United States Natural Gas ETF Message Board

  • csco_brat csco_brat Feb 27, 2010 8:16 AM Flag

    snap back rally coming

    Producers will lay off putting on new hedges at these prices and the price will snap back to the $5.00-$5.35 range on natural gas over the next few weeks.

    Fundamentals are not that bad and some may say somewhat bullish. Industrial demand from steel and other industry is increasing relative to 2009 and storage inventory after the coming report will be below both year ago and the 5 year average.

    I'm quite constructiv on buying at this level.

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    • We will get another snap back bounce or rally, but I don't think we've seen this bottom yet. Yesterday was a prime example, with oil and USO running higher and nat gas staying flat. It just doesn't want to rally yet - we haven't seen capitulation selling and extreme oversold conditions that lead to the bounce back. We're getting close, but not there yet.

 
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