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United States Natural Gas Message Board

  • davecarneyinc davecarneyinc Jan 16, 2012 5:31 PM Flag

    The Lower Nat Gas is, The better for UNG Longs-68% Cash

    UNG is in 68% cash here and will be in the middle of roll dates by Tuesday afternoon, finishing Thursday. The best thing that could happen for UNG longs is for Natural Gas to open very low on Tuesday so that UNG can roll cash into March contracts below $2.60 range, then by Wednesday or Thursday price will come back some as bottom-fishers come in and UNG can unload the remaining February contracts. Many shorts also will have to over before Thursday's data (7:30 AM), which is going to show larger than expected inventory drop because of 1) dropping rig count (Baker Hughes is reporting 2.5% drop last week, finally going below critical level with many more shut downs coming) 2)Industrial use picking way up (46% of nat gas useage is industrial)). 3) Colder weather (California, for example, and many souther states have averaged 4 degrees under normal since beginning of Jan. Portland and Seattle snowing today & 10 degrees under normal) UNG is extremely oversold/overshorted here, expect a rally by Wednesday or Thursday.

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20.79-0.25(-1.19%)Jul 30 4:00 PMEDT

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