ajtj99's Market Pulse

[jdaasoc]

I had very pushy natural gas salesmen from a company which sounded like Amex Energy asking me to lock in NOW! for 5 years at $1.46 vs current $1.72 price from the local gas company.

After his rapid paced pitch, I asked him " Where the hell were you in May when I was looking and the NYMEX spot market price under $9 vs a peak of $14 and current price of $11.40. I told him why would I lock in at above $11 when $11 has rarely been seen anytime in last 5 years.

Then, I more politely asked him if he could send me more details via FAX or email and his respond is they did it only over the phone. I replied that didn't respond to pushy telemarketers and the call quickly ended.

It looks like the current game the pros are playing is to try and sell natural contract on the long side to the fearful retail saps and they basically hold the opposing short side of sale knowing prices are coming down if temperature stays at the balmy 62 degrees right now in NYC area.