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Abraxas Petroleum Corp. Message Board

  • aussie02 aussie02 Feb 23, 2014 11:33 PM Flag

    March Gas is $6.42 tonight


    At some point, we're going to catch fire and move up due to gas prices. Market keeps ignoring it, but the move is coming.

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    • Article today re natural gas:

      Gartman cites short squeezes in wheat and crude oil back in 2008 as recent examples of large short squeezes that caused those respective commodities to shoot up in price; West Texas Intermediate crude oil, for example, shot up from $100 per barrel to $125 during one such short squeeze, says Gartman. In June of 2008, it reached a record $143.68 per barrel.

      “We’re seeing the same thing in natural gas right now,” says Gartman. “We got up to nearly $6.50 on the spot month. If you told me that it [will go] up to $10, I would not be surprised. When you get to short squeezes, anything – truly anything – is possible.”

      Gartman believes the days of $2, $3, or even low-$4/Btu natural gas are behind us. “Once we get through the winter,” says Gartman, “we’re going to have less than one trillion cubic feet of nat gas in storage, which is a very, very tight circumstance. You could actually get down to 900 million feet of natural gas, which is just – I hate to use the word – an unconscionable and frightening level.”

    • joeepowell Feb 24, 2014 8:26 AM Flag

      Well boys, Wednesday we will be 2 weeks from earnings. exciting isn't it.

5.805-0.155(-2.60%)Jul 25 4:00 PMEDT

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