comments on posts....bow,,,, brings up a Q ?
that I note also
stockcharts $natgas plots what it calls
"continuous contract" price
( which doesn't seem the same? as the present/expiring contract)
So is hard to track with nymex - 3.29? ish
and is just end of day ( close) 3.43 ? update late in afternoon e.s.t.
In effect I don't see a true daily spot price -- in many/most commodities
I have wondered if the C C is the near contract or a blend or something else
In any case it seems accurately indicative of the actual/pending movement
I watch for the "boxed" bottom prices
Humm next 2 days will be interesting ( to see if we drop hard from today)
Friday night could show the 3.22 as the Weekly low ( box)
and turn -( for the possible Aug mini-rally )
or go to 3.20 and dip lower next week
The daily looks as if it could turn up
but the weekly shows it can just as easily break down to 3.00 next week
and more roll over?
so the intraday nymex quote just helps you see the expected turn when ready ,
the next day and to jump in
also re: into the 2's ( " 2.00 gas " can be 2.85 ish )
If the storage fill stays up and keeps above the "bollanger band" for filling
It will reach max say 2 or 3 weeks earlier in Oct
--Maybe poster will repost "storage fill chart" thurs or friday
Then offer price for more gas may/will drop off hard say first week in Sept
when the usual seasonal low occurs
Did we just see the seasonal ( July) low for gold and gold stocks
or another dip down over 2 weeks ?
All is affected by the US dollar action ( and affects the GAS UNG ratio )
Skip has a point ( based on steadily higher( shale) NG production in No Am )
Bbut in the longer term ( eg past a year ) you may see switch to NG from oil -to lower ratio
Ie faster build of gas turbine electricity
but any short term switch, ie oil to gas boiler firing , is already done
Remember the big disruption has been recession reducing NG as feedstock to petrochemical
Regards U