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Just profited $87657 on 53,000 MGT will re buy on support
Symbol Quantity Opening Transaction Closing Transaction Gain (Loss) Term Action
Date Price Net Amount Order Date Price Net Amount
MGT
400 05/12/2016 1.7099 684.0 S 05/16/2016 3.16 1,258.97 575 Short
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MGT
400 05/12/2016 1.70 680.0 S 05/16/2016 3.16 1,258.97 569 Short
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MGT
2,000 05/13/2016 1.2176 2,445.2 S 05/16/2016 3.15 6,299.86 3,855 Short
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MGT
10,000 05/13/2016 1.43 14,310.0 S 05/16/2016 3.15 31,499.31 17,189 Short
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MGT
10,000 05/13/2016 1.37 13,700.0 S 05/16/2016 3.15 31,499.31 17,789 Short
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MGT
900 05/12/2016 1.6284 1,475.6 S 05/16/2016 3.15 2,834.94 1,359 Short
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MGT
7,700 05/12/2016 1.51 11,665.5 S 05/16/2016 3.15 24,254.47 12,579 Short
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MGT
1,000 05/12/2016 1.47 1,485.0 S 05/16/2016 3.15 3,149.93 1,665 Short
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MGT
2,300 05/12/2016 1.51 3,484.5 S 05/16/2016 3.15 7,244.84 3,750 Short
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MGT
3,429 05/12/2016 1.7099 5,863.2 S 05/16/2016 3.15 10,801.11 4,938 Short
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MGT
771 05/12/2016 1.70 1,310.7 S 05/16/2016 3.15 2,428.60 1,118 Short
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MGT
4,100 05/12/2016 1.6699 6,846.6 S 05/16/2016 3.15 12,914.72 6,058 Short
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MGT
5,000 05/12/2016 1.516 7,590.0 S 05/16/2016 3.15 15,749.66 8,160 Short
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MGT
2,300 05/12/2016 1.54 3,542.0 S 05/16/2016 3.15 7,244.84 3,703 Short
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MGT
2,700 05/12/2016 1.535 4,144.5 S 05/16/2016 3.15 8,504.81 4,350 Short
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Out for now....... will keep on daily watchlist
24hr lag on commodities with stockcharts.....
Both WTI and NG up in Asia right now.....
Fort McMurray, knocking out an estimated 1 million barrels of production from Canada’s energy hub.
http://www.bloomberg.com/news/articles/2016-05-08/alberta-s-vicious-wildfires-spread-to-suncor-oil-sands-site
Iran aims to freeze oil production
https://armenpress.am/eng/news/846519/iran-aims-to-freeze-oil-production.html%29.
Oil Rig Count Drops by 5, Hedge Funds Grow Wary on Crude
May 7, 2016 9:35 am EDT
In the week ended May 6, the number of rigs drilling for oil in the United States totaled 328, compared with 332 in the prior week and 668 a year ago. Including 86 other rigs drilling for natural gas, there are a total of 415 working rigs in the country, down by five week over week and down 479 year over year. There is one rig listed as “miscellaneous.” The data come from the latest Baker Hughes Inc. (NYSE: BHI) North American Rotary Rig Count released on Friday.
http://247wallst.com/energy-economy/2016/05/07/oil-rig-count-drops-by-5-hedge-funds-grow-wary-on-crude/
Hits to Americas oil output show global glut not invincible
May 05, 2016 07:51PM ET
HOUSTON (Reuters) - Wildfires in Canada. Pipeline sabotage in Colombia. Instability in Venezuela. U.S. frackers at a standstill. Drops in oil output are happening so fast that it looks as if the Americas alone could resolve global oversupply.
The 60 percent price slide of the last 23 months has been consistently pegged to one problem: current global supply exceeds demand by 1.5 million barrels per day (bpd).
But oversupply could evaporate quite quickly when seen through the prism of current disruptions and declines in the Western Hemisphere.
"Unplanned oil supply disruptions have been a key element so far this year that have contributed to a tighter oil market than was otherwise expected," analyst Guy Baber of Simmons & Co. told clients on Thursday.
He also cautioned that if the disruptions were to linger OPEC, which so far has not acted to curb output, would have limited excess capacity to feed a tight market.
Consider this: The wildfire in Fort McMurray, at the heart of Canada's oil sands region, has forced more than 640,000 bpd out of production, according to Reuters estimates, and one operator, Canadian Natural Resources Ltd, said if it loses power then its crude output would tumble about 80 percent.
U.S. output, already having plunged 800,000 bpd on a precipitous drop in new drilling, is expected to slide another 800,000 bpd in the next five months, according to the Energy Information Administration.
Latin America's crude oil production, suffering from under investment, declined 4.6 percent in the first quarter of the year to 9.13 million bpd, a loss of 441,000 bpd from the same period a year ago, according to data from individual countries and OPEC.
The largest decline was in Venezuela, which lost 188,000 bpd in the first quarter as President Nicolas Maduro's government wrestles a deep economic crisis.
Taken together, signs of tighter supply in the Americas helped lift prices for U.S. benchmark WTI crude to an intraday high on Thursday of more than $46 a barrel, within striking distance of a new three-month high.
Analysts at Baird told clients to "look for WTI gains to accelerate if the contract pushes through last Friday's intraday high of $46.78 per barrel."
Nonetheless, with Iran and Iraq ramping up exports, the market still forecasts oversupply. In Europe, Brent crude futures for delivery five years out were still only at a small $10 per barrel premium to one-month contracts on Thursday, a sign the "lower for longer" price scenario may linger.
http://www.investing.com/news/commodities-news/hits-to-americas-oil-output-show-global-glut-not-invincible-400275
Weekly Natural Gas Inventory Report - 'Positive Drivers'
Summary
The build was lower than last year's, but higher than the five-year average.
Production continues to fall.
70 rigs needed to keep Marcellus and Utica production flat.
Highlight
Natural gas (NYSEARCA:UNG) storage saw a build of 68 bcf last week. Current storage levels stand at 2,625 bcf, which is 861 bcf higher than this time last year and 836 bcf above 5-year average of 1,789 bcf.
The build was slightly lower than last year's build of 77 bcf, but it was higher than the 5 year average of 64 bcf.
Natural gas prices remain weighed down due to current inventory levels. Despite visible demand drivers like LNG, Mexico export, and industrial demand, prices have remained range bound.
One positive sign is the positioning of the commercial hedgers. Our analysis of some of the US gas companies point to a lack of hedging for the 2016-2017 winter. Price is currently around $3/mcf, so one would conclude that hedging here is the sensible decision. But our analysis of the supply/demand outlook points to much higher prices.
We believe the long-run equilibrium price for many of these shale gas companies need to be $3.50/mcf+. One can't look at the best producers and extrapolate the cost curve across the whole industry.
To illustrate our point, Tourmaline, a low cost Canadian natural gas producer presented this slide in its presentation:
The total number of rigs have dropped substantially since the shale gas boom started. Production has been held up thanks to drilled but uncompleted wells (DUCs), but soon, that will run out as well.
The incremental demand increase by 2020 is substantial, and if prices do not recover, then there could be a shortage of gas given current drilling activity.
Tourmaline also highlighted that in order to keep production flat in Marcellus & Utica, 70 rigs are required, and that's a stark difference than the current rig count today.
Concluding Thoughts
US dry gas production is falling, but market participants are more focused on the inventory glut situation rather than the supply/demand outlook. Most traders are taking a "show me first" approach, and natural gas build through the shoulder season will need to mimic 2012's numbers if we want a speedy recovery back up above $3/mcf.
For those that want to follow the weather and other related sorts with natural gas, be sure to check out our new "Natural Gas Daily." For those that are interested in how we are playing the natural gas rebound, please consider subscribing to HFI's premium research.
http://seekingalpha.com/article/3971791-weekly-natural-gas-inventory-report-positive-drivers
Not sure.......
Should bounce hard next week after earnings report, REXX is hedged so believe will be better then expected.
Shorts are relentless here......
Only a fool would short REXX at this point Imo.
Green days coming for sure....
Oil edges up as Canadian wildfire hits oil sands production
Oil prices edged up on Wednesday as an uncontrolled wildfire near Canada's oil sands region reduced production there, but gains were limited amid concerns over by slowing global growth.
Brent crude futures were trading at $45.08 per barrel at 10:52 GMT, up 11 cents from their last settlement.
U.S. crude was up 15 cents at $43.80 a barrel.
Wednesday's gains followed two trading sessions that added up to a nearly 7% fall for Brent and a 5% drop for U.S. crude, pulled down by rising output from the Middle East and renewed signs of economic slowdown in Asia.
A report from the American Petroleum Institute showing that U.S. crude inventories rose by 1.3 million barrels last week to 539.7 million barrels underlined worries about the global supply glut.
http://www.investing.com/news/commodities-news/oil-edges-up-as-canadian-wildfire-hits-oil-sands-production-399804
NYMEX crude jumps in Asia as drop in U.S. production noted
Crude oil prices rebounded in Asia on Thursday, up sharply as regional investors took a drop in U.S. production as bullish.
http://www.investing.com/news/commodities-news/nymex-crude-jumps-in-asia-as-drop-in-u.s.-production-noted-399991
U.S. gas futures bounce back after Monday’s 6% drop
U.S. natural gas futures were higher on Tuesday, one day after plunging by the most in three months, as traders returned to the market to seek cheap valuations.
Natural gas for delivery in June on the New York Mercantile Exchange rallied 4.2 cents, or 2.06%, to trade at $2.084 per million British thermal units by 14:37GMT, or 10:37AM ET.
A day earlier, gas futures sank 13.6 cents, or 6.24%, as updated weather forecasting models pointed to mild spring temperatures for much of the country through mid-May.
Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on spring heating demand.
Gas use typically hits a seasonal low with spring's mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning.
Total U.S. natural gas storage stood at 2.557 trillion cubic feet as of last week, according to the U.S. Energy Information Administration, 34% higher than levels at this time a year ago and 32.6% above the five-year average for this time of year.
Natural gas futures are up almost 23% since hitting a 20-year low of $1.611 in early March. Despite recent gains, prices are still down nearly 5% so far this year as weak winter heating demand, near-record production and record-high storage levels dragged down prices.
Elsewhere on the Nymex, crude oil for delivery in June slumped $1.20, or 2.7%, to trade at $43.58 a barrel, while heating oil for June delivery dropped 2.1% to trade at $1.326 per gallon.
http://www.investing.com/news/forex-news/u.s.-gas-futures-bounce-back-after-monday%E2%80%99s-6-drop-399553
U.S. natural gas futures rally 3% ahead of storage data
U.S. natural gas futures were higher for the second straight day on Wednesday, as traders looked ahead to fresh weekly information on U.S. gas inventories to gauge the strength of demand for the fuel.
The U.S. Energy Information Administration's storage report slated for release on Thursday is expected to show a build of approximately 69 billion cubic feet for the week ending April 29.
That compares with a gain of 73 billion cubic feet in the prior week, an increase of 77 billion cubic feet in the same week a year earlier and a five-year average rise of around 64 billion cubic feet.
Total U.S. natural gas storage stood at 2.557 trillion cubic feet as of last week, according to the U.S. Energy Information Administration, 34% higher than levels at this time a year ago and 32.6% above the five-year average for this time of year.
Natural gas for delivery in June on the New York Mercantile Exchange rallied 6.2 cents, or 2.97%, to trade at $2.148 per million British thermal units by 13:37GMT, or 09:37AM ET. A day earlier, gas futures climbed 4.4 cents, or 2.15%.
Gains were limited as updated weather forecasting models pointed to mild spring temperatures for much of the country through mid-May.
Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on spring heating demand.
Gas use typically hits a seasonal low with spring's mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning.
Natural gas futures are up almost 25% since hitting a 20-year low of $1.611 in early March. Despite recent gains, prices are still down nearly 3% so far this year as weak winter heating demand, near-record production and record-high storage levels dragged down prices.
Elsewhere on the Nymex, crude oil for delivery in June jumped $1.04, or 2.38%, to trade at $44.69 a barrel, while heating oil for June delivery rose 1.99% to trade at $1.360 per gallon.
http://www.investing.com/news/commodities-news/u.s.-natural-gas-futures-rally-3-ahead-of-storage-data-399837
I added @ .93 as well......Lol.
N.G. the only green Commodity in the world today up 2.4%....Lol.
U.S. to supply Europe up to one hundred twenty billion meters LNG per year, that equates to 1/3 of Europe's usage.......
Investment in oil and gas to fall this year in the U.S. by 18%
I believe this to be the reason REXX's PPS rebounded today....
Energy Sec. Moniz: U.S. to Be Major LNG Market Player
http://finance.yahoo.com/video/energy-sec-moniz-u-major-021701279.html
Why U.S. Natural Gas Prices Should Double
http://www.forbes.com/sites/arthurberman/2016/04/07/why-natural-gas-prices-should-double/#61b9787e466c
Rig Analytics,Way cool site.......
http://finance.drillinginfo.com/
April 29, 2016 3:23 pm
HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped by 11 this week to 420, again reaching an-time low amid depressed energy industry prices.
A year ago, 905 rigs were active.
Houston oilfield services company Baker Hughes Inc. said Friday 332 rigs sought oil and 87 explored for natural gas. One was listed as miscellaneous.
Among major oil- and gas-producing states, New Mexico and Oklahoma each lost three rigs. Kansas, Louisiana, Texas and West Virginia were down two apiece. Colorado declined by one.
Alaska, Arkansas, California, North Dakota, Ohio, Pennsylvania, Utah and Wyoming were all unchanged.
The U.S. rig count peaked at 4,530 in 1981. The previous low of 488 set in 1999 was eclipsed March 11, and has continued to plunge.
http://wtop.com/money/2016/04/us-rig-count-drops-11-this-week-to-420-another-all-time-low/
Good Call!
Dumb-AZZ short sellers.......Oil & NG will continue up.
long overdue Imo.
Anyone looked at A/H trading? up 12% someone bought 5000 shares@ $1.50
Looks like NG opened down in the us market.......
Thank You PennyMaster ........
Nice board! I'll be lurking around the next day or so.......
Ineos Europe AG with sales today of around $40 billion,signed a 15 year contract with REXX
Oil Bulls Plunge Into Market
West Texas Intermediate crude surged 8.3 percent the week after talks in Doha collapsed. Investors focused on falling U.S. output and higher fuel use as the peak summer driving season approaches. American gasoline consumption rose to 9.25 million barrels a day in March, an all-time high for the month, the American Petroleum Institute said April 21.
It doesn’t make sense to go short ahead of summer because of strong gasoline demand,” said Scott Roberts, co-head of high yield investments and manager of $2.7 billion at Invesco Advisers Inc. in Atlanta. “Refiners are coming back and with that crude demand.”
Speculators’ net-long position in benchmark U.S. crude jumped to the highest since May of last year in the week ended April 19, according to data from the Commodity Futures Trading Commission. Long positions rose to an 11-month high while shorts declined.
WTI futures slipped 2.6 percent in the CFTC report week and the front-month contract closed at $43.73 on April 22, the highest settlement since Nov. 10.
Short Dip
Crude fell as much as 6.8 percent on April 18, the day after the meeting in Doha ended without an agreement to limit supplies amid a global glut. It settled down 1.4 percent as a strike by oil workers in Kuwait, OPEC’s fourth-biggest producer, eased the decline.
“Investors are looking for larger exposure to crude oil and showing a continuing willingness to buy on the dips,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “The market reaction to the lack of a production freeze ended in hours.”
Futures rose after government data on April 20 showed that U.S. crude output slumped to the lowest since October 2014. Demand from refiners has risen 600,000 barrels a day since February.
Surging Demand
U.S. gasoline consumption, averaged over four weeks, rose 3.9 percent from a year earlier to 9.39 million barrels a day through April 15, EIA data show. Demand this summer will increase 1.4 percent to a record, the EIA said April 12.
“Gasoline demand is quite strong and that’s all price driven,” said Thomas Finlon, director of Energy Analytics Group LLC in Wellington, Florida. “Demand for gasoline should provide support for crude.”
The average price of regular gasoline at the pump nationwide was $2.124 a gallon on April 21, down 14 percent from a year earlier, according to data from Heathrow, Florida-based AAA, a national federation of motor clubs.
Speculators’ net-long position in WTI gained by 30,357 futures and options combined to 245,987, CFTC data show. Long positions, or bets that prices will rise, increased 4.8 percent, while shorts tumbled 19 percent.
In other markets, net bullish bets on Nymex gasoline climbed 15 percent to 23,357 contracts. Gasoline futures declined 3.5 percent in the period. Net bearish wagers on U.S. ultra low sulfur diesel decreased 11 percent to 7,773 contracts, the least since June as futures slipped 1 percent.
Crude prices remain vulnerable to a correction because of ample stockpiles, Finlon said. Inventories climbed 2.08 million barrels to 538.6 million in the week ended April 15, the highest level since 1930.
“A lot of investors are overly optimistic," Finlon said. “Inventories rose yet again. To have further price growth, we need to see them come down.”
http://www.bloomberg.com/news/articles/2016-04-24/oil-bulls-plunge-into-market-as-u-s-gasoline-demand-hits-record
NG on the move up again
https://www.dailyfx.com/natural-gas