Jims. NG injection was 42 BCF
which is WAY under the 6 year average for week #40. In fact, following the line across to the left only 1998 had a lower 40th week with 41 BCF.
highlandenergy.com
This years curve still far from bullish due to huge previous build up .
highlandenergy.com
But, as we know, markets often anticipate key shifts in fundamental supply/demand conditions.
Think we could see one more good selloff in the broad market later this month that takes OS and XNG lower than current levels. Then?
My money is going to be on a nice, strong, multi-week, tradable, rally propelled by the following talking points:
1. Low levels of NG drilling
2. High NG well depletion rates.
3. War Fears and concomitant fears of reduced oil from mid-east suppliers making domestic NG a national security darling.
4. Prospects for a "normal winter" cutting into high overall NG storage levels with the high depletion unable to replenish that storage without 1-2 years of higher prices.
5. Some good energy stocks are selling a the lower end of their historical valuation ranges.
6. The economy is very weak. BUT, OSX @ 60 and XNG @ 105 enough of the current weakness has already been discounted to justify a good reflex rally.
Don't think it's too early to start thinking about some nice gassers with enough volume that everybody here can play with - in size - without blowing the price through the roof trying to get a fill!
Remember, with all the money made in gold on this thread during the past couple of years, we need a bigger pool to frolic in.<g>
Of course, folks can post whatever they want. But FWIW I don't favor promoting stocks here that average less than 30 or 40,000 shs/day.
Nite all,
Isopatch |
