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What time frame u see R H&S?
Would be nice, I doubt it, maybe next week!
Spot price up .11 to 3.10- Wow
https://www.investing.com/commodities/natural-gas-contracts
is up in almost all regions bigly:
From Celsius:
"I expect natural gas supply/demand balance to loosen, even with record LNG export demand, which could curtail the consistent contraction of the storage surplus versus the 5-year average unless Mother Nature lends her support with a more favorable temperature pattern. While I remain long natural gas, my bullishness has been tempered in recent weeks and, at this time, I do not see a strong catalyst to drive natural gas prices much higher than my price target of $3.25/MMBTU. See more on natural gas production and supply data HERE."
I suppose the warm weather ensemble/seasonality is driving NG prices at the moment.
Still think the NG 5 year % average is also a driver:
All weekly storage data is a tad bearish:
Thinking DGAZ bounces to 21.50/22.0 area before report!
On the weekly 50ma = 3.20! Could go there this week then down next week to 3.10 or lower with contango help!
JMO
GLTA
Ya good average..I should be under that when I buy tomorrow, If D goes lower. Thinking 20/20.25 in PM!
Save some powder NG can hit 3.17/3.20 with shorts covering. Next week contango we shall see!
Yup a bit... Had a buy order for UGAZ on Friday at 12.50... Stepped out it traded under 12.50 for almost an hour. My order did not get executed. When I came back it was 12.62sh. Did not buy it but I wanted to hedge my DGAZ share. Would had proven to be the correct play...
Oh well!
Bought a bit more DGAZ at 20.55 avg now 21.10 Waiting for tomorrow to avg down more.. NG will revisit at least 3.06/3.08 When is the question.
Bought LABD building a nest at 4.96...
JNUG a buy under 19....USD shooting up!
GLTA
Nice I bought a bit at 4.96
XBI going up to double top.....should peak next week...
Starting to nibble at LABD 4.80...
COT DATA:
Open Interest up 41K Contracts
Commercial still short 1M+ contracts
Speculators still long 1M+ Contracts
Who is right commercial or speculators?
Bank still short 2.3 mil shares
Cot data has not changed much since June!
CDD are up significantly for next 2 weeks heading into Contango!
Weather Outlook warmer next 6-10 days
Daily chart is screaming NG at least 2.94...Who knows
Nice point of view, the Ichimoku Cloud is where NG may trade in the winter months...
Took the day off, I agree with your assessment. Looking to sell my DGAZ shares somewhere between 24 and 25. Don't know if it will get there next week but the following week is contango that currently sits at 6%/w x3. Thats 1.30 if all remains the same as today. All subject to change, will start scalping UGAZ into shoulder season after that instead of DGAZ.
Seasonal thoughts:
Typically NG runs up all Sept into mid late October then retraces some in early Nov for shoulder Season. I dont think NG will have the typical surge in Sept to October. In most part attributed to the Rover Pipeline the output last week was 4.25 BCF with peak capacity in the 18 BCF. Unless demands picks up it will be difficult for NG prices to rise in Sept/October.
Celsius:
"On the supply side, natural gas production surged following temporary outages associated with Harvey and received an added boost from the Rover Natural Gas Pipeline which transported a total of 4.25 BCF of natural gas last week"
NG Trading Theories:
Theory 1: They run NG up to 3.15 to 3.24 range into mid October. Supply and demand does not support this rational unless we get early winter in October. Demand needs to pickup, Seriously doubt it.
Caveat 1: Most options point to a strike for 3.05 to 3.55 for Oct. Guess they haven't read Celsius!
Theory 2: We trade side ways and downward down with over supply pressure on NG: It is not out of the realm of possibility to see NG drop to 2.54/2.70 range. TThe smart/lucky traders that get UGAZ shares here should see 75% to 100% profit.
They say oil is going up next week/near future, Lets see if it takes NG with it.
Enjoy the weekend Folks!
Your correct, I sold the pop in AM JNUG was going to buy JDST.
KJU will completely lose effect on market gyration...Everyone thinking gold going up, oil going up etc etc. I think Market going up. Plunge protection team in full-effect!
hmmmm good point!
Wow jnug is running like we're going to war geez. Peeps!
Dang it I bought JNUG today but should had stuck to my plan of loading the 61.8 fib at 21.23 CHIT. definitely will run all day manana...
Hopefully he has another one he can fire toward China over the weekend!
UVXY up a dollar wow~! Im telling you the order is out, No more brouhaha regarding NK
Gee thats funny jnug is running. Vix nada either!
jnug running
yup just posted on NUGT board
https://twitter.com/business?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Bloomberg?Verified account @business 7m7 minutes ago
More
JUST IN: North Korea missile may have been launched, Japan says https://bloom.bg/2xnFjGz
I think the market is going to start getting used to KJU with Nuclear weapons. What other choice do we have?
I bought some JNUG today and Im seeing the usd/jpy dip while gold is rising..
Im liking JNUG till 26 again!
oh yeah is your birthday!
Bought DWT this morning at 24.40 was scared shit less for over 42hours feel a little better now!
I see DGAZ 23.50..Then will re-assess this mumbo-jumbo..
Thats the line of demarcation weather bulls or bears win. right now bear held. We shall see moving forward
Nice ty need DGAZ volume...NG about to take a dive!