Nope not likely, normal seasonal up trend. NG companies will adjust to the GDP going forward and allow prices to climb. A lot of short covering, up $.15 on NG. UNG is up, maybe a pull back ahead roll over. Most companies are not going to hedge this early maybe once they get a break out. CHK dry gas peaked in 20012 which was 10% of the NG market. XCO is positioned to get sticky oil on line going into next year.
Boy's and Girl's thos stock will be running shortly. NG like all of the other Natural Resources will inflate as GDP increase. The US needs inflation to grow out of the last crash. Get ready!!!!
The shorts will try any story to help them cover, lmao.
That is my basic point. I look to the little funds to see how they are being pushed around, then look for the #$%$ of the NG world. I am hoping the new management will squeeze value and add more production in the oily stuff. I am not for dumping all the dry gas it is really under valued, NG will go higher if we continue to curtail dry gas production over time.
If you look at FCG's trend, you will see it just back filled. XCO is part of it. It may not be in its top 10 list currently but the ETF has had it in the top spots many times, the ETF will buy if a company is under valued. I would watch for other ETF's to pick it up if the company get to low,
I look forward to seeing how this unwinds. A lot of shares are all tied up and shorts have to control there buy backs and longs have to hold on to there secured shares.