southacres: NG could spike if and when we finally get some cold weather, but for now it's balmy here in NY .... temperatures expected to get near 60 this weekend, about 20 degrees above normal.
I've already covered half my short position in the NG futures .... staying short the rest because I think there's a good chance of lower prices in the coming months .... the supply overhang is getting more ominous with every passing week of mild weather !
You're certainly right about the fickle nature of the market .... eventually we'll get a cold snap, but if the market rallies over $7/mcf, I'll use the spike up to increase my short position ....