cliff: NG:
Well, whether $10 or $14 or berzerk, it is just a number. The marketplace decides the value of an NG stock. I'm not ready to predict the top in NG stocks, BUT a very good case can be made that all the issues of shutdowns, Rita/Katrina, winter coming, etc, have been factored into the EXISTING prices of these stocks.
I don't know if they have been factored in or not, and certainly NG has considerably less vulnerabilty to an economic slowdown than oil, but I'm simply saying that it is not uncommon for the price of a commodity stock to peak long before the peak in the price of the underlying commodity.
If BW hadn't made such compelling arguments about the long term nature of the NG shortfall, I would definitely be unloading my NG stock positions as well as my oils.
Len
Warren Buffet: 5 minutes and 17 seconds of pure, unadulterated, bulletproof, flawless logic.
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