I just turned my furnace on, official start to ngas draw down in Colorado. Spitting snow and 30's tonight. I also fired up the pellet stove in the basement.
I am sitting on my hands a while longer, watching the Canadian Dollar and the USD index. I see a chance for the USD to get rammed up to $.88 before it runs out of steam. The peak of the USD should be the time to buy many Canadian resource stocks at pre "bubble" prices.
I don't think we are at a low in the general markets yet and any rally will result in a re-test of last week's low. A failure there is one sick puppy, down to 7500 DOW.
I like POE more and more every day and will start buying this week. I still see TXCO as a buy back at some point. So many others to pick from but still lots of de-leveraging and forced selling risk. I am sure more situations like the CEO of CHK and his 35 million share wipe out are brewing over this weekend. The yen carry unwind is going to blow up a bunch more hedgefunds. 40:1 leverage and a 25% move up in the YEN will have them jumping out of windows!
If there is a downturn in the dollar, resulting in a stronger Canadian dollar, any whif of inflation and a cold winter should send oil and ngas a lot higher. We could be looking at huge gains by mid-winter.................................if the world doesn't end before then.
Good luck to all of you. I have been focusing on my work and plan to go to China within 30 days to visit a zinc, lead, indium recovery plant. www.sino-indium.com (click the "English" tab)
Kipp