SandRidge Energy Inc (SD)

[jtomm]

Europe natgas down $15 this morning and US natgas flirting with the 4's.

Have we been had by yet another false narrative from the media?

I'm not a big believer in technical analysis, but a lot of people are, so I pay attention to it. Maybe we're near the bottom; there should be pretty good support for natgas around 5-even. But if that breaks, I see no reason we couldn't continue down the 3's or 2's.

Just a couple of months ago, $15-$20 gas seemed inevitable. We could still see it, who knows.

But perhaps the market's biggest fear is of price caps in Europe. That would fit the WEF playbook. Price controls would lead to shortages which would lead to rationing. Then they would blame capitalism for not being able to supply enough gas, thus it's time for govts to nationalize energy companies, because govts know how to solve problems!