John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: The Ox who wrote (17519)

1/5/2016 2:54:26 AM

From: John Pitera

1 Recommendation

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roguedolphin

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OX, we've had some pretty good years with natural gas the fund we had back in 2000 put on multiple contracts when it broke out in the late summer...... back in the the 1990's and in the first several years of this century... the seasonal highs in Natural Gas were definitely in December and thus it gave you a time target to get out .... and also a price high in July for the summer AC season.... the NG market has assumed entirely new qualities since we have had the rise of fracing.

John

Message 14957984

To: John P who wrote (2596)	12/6/2000 1:14:49 PM
From: John P	Read Replies (2) of 17523

WOW a single Natural Gas Futures contract has gone up $43,000 since the end of Oct. The Jan 2001 NG contract has traded up to 8.75 today. It's coming close to winning the title of the Market of the Year even my targets have been taken out.... Yes, Natural Gas is going higher. I imagine 5$ is a minimum and under the right constellation of events, I think we could see $7 Natural within 4 to 8 months. Message 14195507 this has been an excellent example of a market that one tries to buy on a reaction (earlier this year) and then just stays long with a trailing stop loss. It also is important to remember that when a market goes into new alltime high ground, the further upside can be so much greater than the conventional wisdom. we might even see $12 in this type of market, but it's a very dangerous market to trade now if one is not a commercial. a couple of old posts talking about the bullish ascending triangle back below 4.60 in the summer and the contract specs. Message 13935506 Message 13935553 One more post I have dug out from this thread, talks about the Elliot Third of a third concept that Chip was asking about today, this may further clarify the earlier post to Chip. Re. selling the news on oil normally that is that case. when everyone is talking about a trend it's time for it to reverse. occasionally you can find instances were everyone is talking about something and to use an elliot wave concept, it's a third of a third wave advance in a bull mkt or it would be a decline in a bear mkt. it's a point where their is mass realization of a trend and it propels the trend much further even though everyone "knows" about it. The issue is how many people are long these energy stocks and have been in the energy complex bull mkt?? the fundamental situation in NG and heating oil, seems to indicate higher prices, but I agree that it's "front page" news so we'll have to watch it closely. John+ Message 14212272 John

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