workin here....out of the corner of my eye at 10:15 am...on level2 ....200K and 300K buy lots on ugaz at 26.83. never saw buy order sizes that large on ugaz ever. period.
bh, hey been reading some your posts and you are making a lot of sense to me. I saw the one where you posted your net trades and thats efin awesome. I think natty has more fight here and especially if traders believe storage levels are threatened we may see a short spike of 1 or 2 days. small specs and large arenot on the same page.
+1 I'm so pleasantly surprised you can buy ugaz during prior days close, hold it a little and catch the gap up just about everyday. I know it wont last but I likey. the buying ugaz at the close thing has been going on for some time.
+1, awesome post. Keep in mind we tracking to producing 70bcf a day now. but like you say are the producers gonna sandbag going forward. cat and mouse is perfect analogy.
should happen this week. guessing certainly by friday. if that doesnt wake up gas traders I dont know what will. do yourself some digging on the 2008 gas spike and see if there are any similarities to this year. One big honkin difference is the magnitude of production. Any misstep in consumption gonna make gas slide. I will be playing both sides this time. doesnt hurt to have more than one horse in the race
every time it makes a move either up or down the puters break out enormous sell or buy side positions so it makes it tough to push thru one way or another. I'm talkin the 300K lots on level 2. this really damps down any movement.
I'm in the gas business. I'm not in love with a long position but it looks to me like its gonna work for a while. I've tried hard to hold-scalp whatever dgaz but its not working well for me. the ginormous churn and the large open orders on the sell side lead me to believe natty can run here. ride the pony til she drops.
ahem, gas is still very cheap compared to other sources. thats been well discussed here. oil interests do not want to see continued low prices for natty.