Energy Transfer LP (ET)

[dude iligence]

Ther was 30% plus contango may to June crude contract. When the volume of frt month contract decreases below the fwd month contract the chart is rolled to fwd month. That happened last Thursday. You can see the contango in the big gap up from 19 to 20. See finviz hourly chart. The volume of the may contract drops off as expiration nears. Think of it as late to leave bhers still hanging onto may while everyone else is focused on June. The contango unwound from Thursday thru today testing the previous level 20ish now 21. CNBC focused on the wrong thing today what will they say when all 9f a sudden crude is $20s. They missed the big play in this, NG. NG bottomed 1st week of April switching to a long trade. Today ng closed 1.92 on strength at April 8 high, currently 1.94. When it gets above 2.02 the bottom and reversal will become evident to most. Ng is moving on anticipation of less associated gas, soon it will be moving on anticipation of a long hot summer. Good time to be in energy sector.