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To: quehubo who wrote (73764)10/24/2006 8:44:54 AM
From: Ed Ajootian  Read Replies (1) | Respond to of 206195
 
que, FWIW, sangarca on IV is calling for a $6 - $6.15 close this Friday. If we really do get something like a 25 BCF fill this week with expectations of a minimal fill next week, it would seem unlikely that the contract will close that low.

The spread between cash natty and the near-month futures price has undergone one of the greatest turnarounds in history over the last few weeks. Cash was trading > $2 lower than futures a few weeks ago and as of yesterday, it closed about $.20 higher. Not sure what this all means, or even whether its bullish or bearish. Any thoughts?



To: quehubo who wrote (73764)10/24/2006 3:19:56 PM
From: buckbldr  Read Replies (3) | Respond to of 206195
 
Que, I'm viewing the PTEN chart approaching a "major"? resistance around 24.00 to 24.20 area. Assuming we get reasonably neutral to bullish CL & NG inventory and injection reports tomorrow and Thurs., and if the price closes above that resistance area, what do you , and others who follow PTEN w/ a favorable attitude (Frank, and all others) think of its prospects of returning to an up-trend mode back to the 30's and greater?

I'm going to try to post a link to the chart here below....have been unsuccessful the last few times I've tried, so please excuse my fumble if it fails.

I'm strongly leaning to the idea that this week could be the bottom in these land driller stocks, esp given them meeting the above parameters. Of course, I've been absolutely out of step many times in the last several weeks, so am wondering what other objective thinkers are considering.

Thanks for your replies on the board.

Buck

stockcharts.com

Edit...I see that I failed again....wish someone could post instructions on how to accomplish these links to selected StockCharts....I used to, but seem to have forgotten the procedure any more. Sorry.