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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: quehubo	3/24/2005 6:09:18 PM
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The draw came in a little light today, but we are still headed to 1,220 or so. We have 3-6 weeks that should be interesting as we enter the shoulder season and earnings season. I expect the news on the land side to be hyper bullish and one only has too wonder if this will be offset but the uncertainty of how the injection season will proceed and worries about Summer ng demand. Obviously commodity prices will come down hard right?, so certainly I can buy PTEN NBR much cheaper later. I suspect ng prices into the Summer months could drop quite a bit but significant demand would be found at $6 with a mild Summer. Unless some E&P mainlines another Ladyfern or two by year end I dont think Winter and forward NG futures contracts will be changed much regardless of what happens to NG prices this Summer. I am quite certain of one thing, when PTEN NBR make their next move up it will be fast and furious like the rise PTEN had from ~$18-25. I for one have no doubt PTEN will trade at $33+ in the next 12 months. Whether it sees $20 first I dont know. So as long as I see the fundamentals the way I do, I will stay ~50% invested and do my best to buy support and sell resistance with the rest. The fact that we had so many posts here about Slider says allot. He was okay for entertainment value I suppose, but I found the basis for many of his bearish conclusions to be unsupported and indicative of a poor understanding of the energy industry. Anyone stressing LNG as an issue to be reckoned with before 2010 without some new supporting evidence is going to loose my interest fast. Comments about refinery issues were even weaker IMO and not relevant to the NA NG situation at all. Between incremental home heating load and most all incremental electric demand coming from NG fired generation, the deck is stacked heavily against the bears.

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