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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: sportsman who wrote (6392)2/3/2002 5:47:25 PM
From: sportsman  Read Replies (1) of 206270
 
Reasons to be cautious on the OSX:
NG Storage
2294 bcf currently in storage
5 yr average draw left for the winter: 786
5 yr average build during summer: 2001
If we draw the average of 786 for the rest of this winter, there will be 1508 bcf in storage exiting winter. Add the average build of 2001 and there would be 3500 bcf (if there is that much storage capacity) in storage entering next winter. Even allowing for a higher depletion rate, there is still going to be an excess amount of NG for this year. I may be the only person still bearish on NG, but I believe buying energy stocks at this time carries a lot of risk. I will wait for much lower entry levels, which I believe will be present this Spring/Summer.
JMHO
Sportsman
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