NG HNU target ?hummm HNU 3.82 before injection numbers released
Almost to my prediction of 3.79 by Friday
And others now predicting 3.50 HNU ? ( next week ) say 3.75 anyway
I can easily see $natgas ( chart) lower -to retest low (of 3.21) or Lower?
- to take HNU even lower Opinions?
Why expect any change in injection rate now or for three weeks?
unless falls off under 60 N G weakens
What will increase industrial consumption (ie chemicals )
US industrial likely slow for rest of Aug summer in any case
Maybe a few more autos replenishment ( parts fabrication? )
modest odds ? of Hurricane for 2 weeks
and then only odds for 1 or 2 storms of cat 3 to 5 for season
and 1/100 of extensive nat gas damage in Gulf
- say end of month into Sept
Just a trading spike while platforms vacated for 3 days
unless huge damage
Now Debate will be whether to enter HNU in 3.70's ( or lower? )
( tempting on $natgas chart )
in next 2 weeks Opinion?
Hard to predict turn in $natgas chart.
Could it fool us and not move till late Sept? ( vs early Sept )
ie for HNU spec
otherwise enter UNG or GAS ( or HUN late sept?- closer to its Dec future)
Sure saved a lot by deciding to stay on the sidelines and to avoid
bad practice of averaging down
HNU = H eaven k N ows U should wait and then wait some more (June-Aug)
cool - Rocket is a thinker
U