Joe, I am basically broke.. But wish I had money to bet all Drybulkers would go BK in next 2 yrs..
by jrmills0014 •Aug 20, 2014 2:28 PM
"Late-breaking winter weather is draining natural gas inventories at a pace comparable to last year, with a significant deficit to the five-year average likely to emerge by the end of March," said Teri Viswanath, director of natural gas trading strategy at BNP Paribas. "To be sure, we now see end-of-season inventories falling to just 1.48 Tcf compared to the 1.7 Tcf predicted last month or a 175 Bcf deficit to the five-year average.
"Such an unanticipated reduction in inventories might naturally be expected to spur a recovery in prices. However, with the end of winter and looser balances around the corner, the market appears preoccupied with domestic production growth and the prospect of a 'summer of oversupply.' We disagree. With more room to accommodate surplus supplies this summer, concerns that the industry will test physical storage limits is misguided. Further, the pace of refilling the more significantly drained storage facilities might actually disappoint."
Viswanath recommends holding on to a long January 2016 futures position established Feb. 6.