At some point the buyers will step in just like oil. When we were selling at 16-18 all you heard about was last year, last year this happened and last year that happened. Last year was the odd year and not the norm and it lulled a lot of people into thinking we would see the same thing this year. You been the one that stayed short and that proved to be the smart move. 3.20 is the next support and than 3.00 I think this week will be the bottom but who really knows. If it isn't then that just means that other opportunities are opening up, Just like GASL was last week. GL.
Uncle no pockets? Oh no that was another warning at the bar. Everyone here are adults and have to make their own decisions, I have had some call the way i trade stupid, LOL to each their own. The difference in commodity trading is there are so many variables and no guarantee's That is what i like about them, you have to be nimble and constantly adjusting. I think last years NG move lulled people into a false sense of security going into this year. Well i am going to jump in the shower and wind down so i am ready for another great week in the market. TTYALLL8R
LOL I think you had some really freaked out. I figured once we broke that 3.60 line we bounced off of we would test 3.20 and who know maybe three. This is going to be a light week as far a professional traders go so it will be a perfect time to push the market. I am thinking we could drift lower till the report and about that time the weather fools should start reporting that large cold mass moving south about 6-7 days out JMO
I have to disagree with you, I don't believe this has anything to do with over supply. If that was true how could we be so over supplied three weeks after we were up on cold weather draw down. This like oil is just being pushed down because buyers are willing to wait. Since oil is down than NG should be down also. At some point the buyers will say enough just like oil and when the first one blinks it will jump JMO
Well little lagroin, I am sitting on a large position in GASL that i don't have a dime in and this week will bring more opportunities if you have money, Now you have said and did nothing in weeks so why don't you say something useful
I see the shorts pushing this as far down as they can before winter gets here. It's looking like 3.00 is not out of the question. As always this will just make for a great opportunity before it's over.
7 days out i see the jet stream dropping down pulling some cold with it. I added a little on friday and will load up once we get out of this downtrend. These extreme moves make for great opportunities GASL went from 3.22 to 5.27 in two days so you just have to be ready GL MIke
I have a chart on my wall that shows all the different commodities and since the big drop in 08 and all the input of cheap money everyone of them has dropped off a cliff, gold,coal,copper,silver I could go on and on. It shows what cheap money can do to the commodity sector over time. I am looking for a major correction in the market in 2015 and think this cheap oil might be the black Swan catalyst that sets things in motion if this continues to long which i doubt will happen but I got all my capital out of the market in 08 and missed the major losses and don't want to get caught up in the next one if it happens.
I have read a lot of conspiracy theories from the Saudis to the US but the fact is the world is producing more than we are using and that is something you can't fake. I think at most some countries are doing nothing to help the situation but doubt it's much deeper than that.
What do you think the affect of the low oil price will have on the overall stock market. I am re-balancing my regular portfolio and going over every possible angle this could affect looking for contagion, 3rd world debt, bonds,bank loans etc
according to the eia the high for NG was 10.33 in Oct 2005 I tried to post the whole chart but yahoo wont let it Just type 1991 ng price and open the one that titled , US Natural Gas wellhead price
I am long and have no plans on changing now. I looked and can't find the rest of that page My plan is to go in heavy real soon based on the time of year, weather, and the sheer amount of negativity on this and other news and MB's I bought some fri and feel good about my avg. Well i am off for breakfast but i will make some calls this afternoon and see what i can find out. Enjoy your sunday cause tomorrow it's back to making the donuts. TTYL8R
One thing to remember is back in 2012 when NG was two dollars not many quit producing but rather just kept pumping just like oil now. While the independent business man/woman can't survive selling something for less than cost, Big business can and do it all the time. They use the old Mean average since getting rid of help and shutting down cost more in the long run along with the revenue flow stop. I see a lot of manipulation going on by those who have nothing invested in production or anything else
This is from a report i got a while back I kept the last page as a reference but am trying to pull up the rest as we speak In summary, it seems clear that below $2 the shale gas industry as a whole is unprofitable. The published evidence points to the estimates of Ken Medlock at the Baker Institute as providing a balanced picture. The profitability of individual companies will depend upon the quality of their overall portfolio. Only time will tell if the high end estimates of Weijermars and Berman come to pass as a result of wells producing less than currently assumed. But this is an extremely volatile and active industry with efficiency gains being made all the time, and making forecasts is incredibly difficult, especially about its future
Where did you come up with the cost figures for NG I was talking to a friend yesterday that was talking like NG was really cheap to produce since it didn't cost that much to refine. I am going to call him back today and get some hard figures from him. He works with an investment group that works in the energy sector and has great information and specifics
I hear ya, I was just wondering what that would work out to, I see a large mass of cold dropping into the US at the end of the week, Between that and all the negativity i think we are close to the bottom. I am sitting on plenty of cash waiting for things to change directions and have been going over the market making a list of trades to get ahead of this cheap NG & Oil
You guys really have a way of making one feel better lol Four dollar UGAZ I wonder what that would make DGAZ 10-11?