Jan 20th-27th: Weather systems will track across the northern and southern US this week, although it will be relatively mild by late January standards. There will be cold blasts track through that will push chilly temperatures at times into the Southeast this weekend, but Arctic air will remain confined to southern Canada, keepingheating demand mainly moderate over much of the US over the coming week, especially over the western half of the US where it will be warmer than normal.
plays haven`t even priced in yesterdays 4% decline in NG. I love these plays but premarket trading should be above a 25% gain/loss or more and then run up throughout the day. Like yesterdays NG trading never existed, unreal!
U.S. natural gas prices plunged sharply on Monday, as weather forecasts predicted tempertus across the U.S. would not be as cold as previously thought, dampening near-term demand expectations for the heating fuel.On the New York Mercantile Exchange, natural gas for delivery in February tumbled 12.0 cents, or 3.85%, to trade at $3.007 per million British thermal units during U.S. morning hours, after hitting a daily low of $2.978.Trade volumes were expected to remain light on Monday, with U.S. markets closed for a holiday. On Friday, natural gas declined 3.1 cents, or 0.98%, to settle at $3.127.
Futures were likely to find support at $2.932 per million British thermal units, the low from January 14, and resistance at $3.228, the high from January 16.Updated weather forecasting models for the lower 48 U.S. states called for seasonal temperatures over the next two weeks. The outlook for late-January previously called for a significant cold snap.Bearish speculators are betting on the near-normal weather reducing winter demand for the heating fuel.The heating season from November through March is the peak demand period for U.S. gas consumption. $2.995 -0.133 (-4.24%)
U.S. natural gas futures declined for the second consecutive session on Friday, as weather forecasts prdicted temperatures across the U.S. would not be as cold as previously thought, dampening near-term demand expectations for the heating fuel.On the New York Mercantile Exchange, natural gas for delivery in February slumped 3.1 cents, or 0.98%, on Friday to settle at $3.127 per million British thermal units by close of trade.On Thursday, natural gas hit $3.352, the most since December 22, before settling at $3.158, down 7.5 cents, or 2.32%.Futures were likely to find support at $2.932 per million British thermal units, the low from January 14, and resistance at $3.352, the high from January 15.Updated weather forecasting models for the lower 48 U.S. states called for seasonal temperatures over the next two weeks. The outlook for late-January previously called for a significant cold snap.Bearish speculators are betting on the near-normal weather reducing winter demand for the heating fuel.The heating season from November through March is the peak demand period for U.S. gas consumption.On Thursday, the U.S. Energy Information Administration said in its weekly report that natural gas storage fell by 236 billion cubic feet last week, more than expectations for a decline of 224 billion and compared to a drop of 131 billion in the previous week.Total U.S. natural gas storage stood at 2.853 trillion cubic feet, 11.0% above year-ago levels and 3.8% below the five-year average for this time of year.Despite Friday's losses, Nymex natural gas prices tacked on 18.1 cents, or 5.78%, on the week, the first gain in eight weeks, as investors reacted to a cooler shift in weather patterns in first half of the week.Natural gas soared 29.0 cents, or 9.85%, on January 14.Natural gas prices are down almost 33% since mid-November as an unusually mild start to winter limited dmand while production soared.
This Weeks Nat Gas Heating Use Freezing Rain to Fall Before Turn to Plain Rain
Jan 15th-21st: Glancing blows of colder air will impact the Great Lakes and interior Northeast, while the western, central, and southern US become quite mild by mid-January stadards through the middle of next week, allowing high heating demand to ease to moderate, although it will still remain locally high over the far northern US.
It is also basic economics that when the price of a goods decline, the demand for those goods will start to increase.
Canaccord has always had an agenda and it`s never been in the investors best interest.
Jan 14th-21st: Glancing blows of colder air will impact the Great Lakes and interior Northeast, while the wesern, central, and southern US become quite mild by mid-January standards through much of next week, allowing high heating demand to ease to moderate.
Vermont Yankee nuclear plant closure could add gas demand
Entergy Corporation’s Vermont Yankee 604-megawatt (MW) nuclear power plant retired last week, after 42 years of service. The closure of the generating station, which provided about 4% of the region’s electricity sales, will increase New England’s dependence on natural gas for power generation, according to the Independent System Operator of New England (ISO-NE), the region’s wholesale power market operator. EIA estmates that natural gas electric power generation capacity of a similar size to Vermont Yankee could burn about 100 million cubic feet per day (MMcf/d) of natural gas.
Jan 12th-19th: Chilly temperatures will linger over the north-central US and Great Lakes early this week, while the Southeast and East Coast warms closer to normal. Milder temperatures will arrive late this week and last until next week as Pacific weather systems arrive with areas of rain and snow, easing heating demand from HIGH to MODERATE. Bottom in?
Jan 8th - 14th: Frigid temperatures will grip much of the US into Saturday before the Arctic grip begins looseing into early next week as the cold air retreats into Canada. Very high heating demand the next several days will ease this weekend and early next week.
The gas market “looks terrible” for 2015 and “has been structurally oversupplied for years," Raymond James analyst Marshall Adkins says as he cuts his forecast for average 2015 Henry Hub gas prices to under $3/Mcf from $3.65, citing normal weather that will “unmask the bearish underpinning of the U.S. gas market."
Also this has not changed- Jan 5th-11th: Frigid temperatures will grip much of the US this week as a strong Arctic blast follows behind a weather system tracking through the East with areas of rain and snow. Lows will drop into the single digits and below zero over many central and eastern US regions for most of this week withhard freezes also pushing deep into Texas and the Southeast. This will increase heating demand to VERY HIGH. The western US will be warmer than normal, however, as high pressure dominates.
Sentiment: Strong Buy
A lot of todays action is reflected in the overall market performance and energy stocks being shellacked as Nymex crude drops below $50. This will rebound as will the stock market. UGAZ and TNA.
Buying the dip trade on this inverted head and shoulders. Todays sell off is due to overall market UGAZ will rebound strongly this week.
Jan 5, 2015; 10:51 AM ET Arctic air will invade much of the country this and there will be some snow; a few inches in Chicago tonight and an inch or two in New York tomorrow AccuWeather LIVE: Several Rounds of Arctic Air to Freeze East, Midwest
Breaking: Winter Rallies
Brutal Cold Plunges From Canada to Midwest, East
Travel Snarling Snow From Midwest to East
Snow Causes Dozens of Accidents in New York State
Winter Has Arrived in Chicago
Watch the latest edition of AccuWeather if the doesn`t makk you go long nothing will GL
Sentiment: Strong Buy
Out of the 105.5M shares outstanding in UGAZ the program traders are really laying on the short positions today. Funny, I think the bots algorithms need a serous reset on their circuit boards! I see this trading above $5 this week period, so shot away!
giving another buying break fro traders so buying into this for a trade. Cold, cold and more cold so we`ll see solid withdrawal on the 8th.