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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Ed Ajootian who wrote (28562)12/29/2003 5:27:30 PM
From: quehubo  Read Replies (3) of 206093
 
With NWS recording 174 GW HDD last week and forecasting 160 for this week we will be 10% warmer than normal for the Winter to date.

If the Winter weather improves to remain only 5% warmer than normal through April 1 we end at 1,200 bcf in storage on 4/1.

I cleared my margin and raised 40% cash today. I may raise more cash tomorrow.

Pulsewriter (AW) can come up with all sorts of bullish possibilities for this Summer if its hot, but no one will pay for it until it happens several weeks in a row. NG is still a story with the main act in the Winter. Starting April 1 with 500 bcf more in storage will not sit well with investors.

Also the way the Winter is shaping up we will not be pulling so much oil off the markets either.

If we do not see a sustained period of colder than normal weather set in and be forecasted to set in I dont see any reason for Feb NG to close more than say $5.

So I would be very careful. I understand completely why Jan NG closed where it did today. But two weeks from now the sentiment for February may be quite different if the USA is not covered in a sustained Arctic blast. We wont see a good storage draw for 2 1/2 weeks from now.

I will be very cautious until I feel some cold weather and the forecasts show some sign of sustained cold.
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