definitely getting close....
not sure if this is the turning point, but at some point, the 1000 drop in oil rigs and 100 drop in ng rigs will be felt.
for now, keep trading it until you see $3.1+
the associated gas adds up to 15% to the total NG production. We are already down 1000 Oil rigs and today's Iran news should increase that count further.
The key level to watch is $3.105. A close above that level would be super bullish.
I think shorts will stay strong until $3.105, but above that level they will all run for the exit.
I've been both long and short for the past few months but now I'm not entirely sure what to do. I know one of these rallies will be for real....but is this one THE one????
I really feel the criminals are trying to trap the shorts. personally, I do short but do not stay short overnight. If it pops above $2.93 this morning, I will short again, but will close my position before the end of the day if I'm in red or green. Things are getting tougher and tougher, a sign to me that something is up...
does that make sense to you? it makes no sense to me, and that is why I'm inclined to believe the state numbers and not the EIA extrapolations.
Unfortunately, to make money, you have to play along with the criminals. but be very careful, the truth always comes out...
right now, I'm very confused, and I'm not really sure what the criminals are going to do next. Another week in the trading range or make a run for $3.105?
I feel that there is no more money to be made on the short side and the criminals will try a new approach but you never know...When you are not sure, just watch...
Halfway through July, power burn demand has now averaged 31.3 Bcf/d, which is 4.5 Bcf/d more than the same period of 2014, with injection activity slower compared with last year.
just don't bet the farm on it....
think about it...do you remember FEMA? do you really trust a government report with your money?
demand thru the roof and the rig count at a historic low level for months now.
Lately, the market reaction to the EIA reports speaks volumes....imo, they need to get their act straight unless they don't care becoming irrelevant....
the numbers from the state of Pennsylvania, Texas, and Louisiana are totally different than the ones that EIA reports. The numbers from these states are public and you can/should check that for yourself. Either the companies that have to pay taxes in these states are lying or the EIA extrapolation is BS.
Texas production has fallen to an average of 20.2 Bcf/d over the past two days after seeing an average of about 20.5 Bcf/d over the prior seven days. This decrease has helped push month-to-date production down to 20.45 Bcf/d, a 169 MMcf/d decrease from last year and 100 MMcf/d below last month as well as continuing the downward trend of falling production that has been observed in the Lone Star State since March. This dip seen over the past few days has been primarily driven by recent declines seen in the Permian Basin. Sample production receipts in the Permian have fallen about 190 MMcf/d from the prior week’s average to just 1.5 Bcf/d over the past two days. This drop in western Texas is mainly propelled by receipts at the Ramsey Plant on El Paso’s system falling by 222 MMcf/d on 7/20 and ultimately to zero for the first time since 2014 on July 21 after averaging about 235 MMcf/d for the prior seven days. If production continues to remain low in west Texas, hubs such as Waha could begin to see upward pressure.
when the rig count goes from 0 to -1.
production has already dropped but the EIA extrapolations are not aware of it just yet.
Exxon, the #1 NG producer, cut production by 200 Mmcf/d in Q1, production in Texas and Louisiana down by more than 10%, Marcellus production flat and not anywhere near where EIA says it is.
When the criminals go long, you will get a chance to hear about all these facts....
and that after losing more than a billion last quarter and laying off thousands of employees.
how can that be? EIA in every report they put out claims that the NG companies are a lot more efficient nowadays. Maybe if they go bankrupt that would make it the ultimate efficiency for EIA?
there is nothing efficient in this industry. They claim they have all the NG under the ground and they lose billions extracting it. Time for companies like Chesapeake to go bankrupt...
all that these criminals have accomplished is send our NG producers to the brink of bankruptcy. Like that would matter! They killed thousands in Iraq for nothing and I highly doubt that the American people losing their jobs is any of their concern.
personally, I've got news for these criminals. Russia has no debt, and Putin will now be able to sell weapons to Iran without having to hide....
Monthly production showed signs it slipped in May and June, and, combined with increasing power demand, that could set up a big winter for gas, Credit Suisse Group AG said Wednesday in its "Mid-Year Commodity View." It predicts prices above $4/mmBtu this winter.
That is in part based on the bank's projection that gas stockpiles will end the season with only 3.8 trillion cubic feet stored for winter. That forecast comes in conflict with other banks, including Societe Generale SA and Simmons & Co. International, that have warned there could be more than 4 tcf in storage and that prices may need to fall to selloff gas as its storage nears capacity.
"If we are right, then U.S. natural gas markets may find the kind of fundamentals support that we have not seen in years--for a few quarters, or two seasons even," Credit Suisse said.
Baker Hughes just announced another loss, Talisman Enerygy (top 10 Marcellus producer) lost over $1.5 billion in the past 2 quarters, Chesapeake posted a huge loss, cut the dividend, fired thousand of employees and sold land to stay afloat, etc, etc, etc,....is this what a Federal Agency is referring to when they talk about "efficiency"?
the criminals that took us to war with Iraq want to destroy Putin now. Thousands of Americans dead, and hundreds of thousand without jobs is not a concern to them