ManipulationI'm going to make a pre-emptive post because you knows it's coming, all the sheep are going to start whining about "manipulation" and "crooks" and this and that. The fact is, anybody who is bullish HNUdoesn't know what they're doing, is making poor uninformed decisions, and it is easier to complain about the economic bogeymen in NY then confront themselves and figure out why they made the decision they did.
The fact is, NG is behaving exactly as it should.....with no industrial demand, a phantom recovery (you can't have a true recovery when the unemplyment rate continues to go up), storage either at or near capacity of COURSE it's going down.....yet people only think "winter's coming" and then buy......do you think everybody else forgot about winter? it's priced in already...what does that mean? It means that if we WEREN'T about to enter winter, the price would probably be around $3, instead of the $4.70-ish it is now.....
For those who think NG can't go any lower, it most certainly can. Not saying it will, but there is the very real chance that NG is overvalued at $4.70.
If NG were going UP in the face of these fundamentals, THEN the manipulation whistle blowers would have a case, as there is no reason it should be going up.....there is every reason it should be going down, and because it is, we are able to conclude that NG is behaving as it should.
Believe that winter is going to save the NG price (which amazingly, nobody else thought of) is like thinking that a bulletproof vest is going to save you if you get shot with a bazooka......
There is a bazooka of bearish fundamentals going on, and you're hanging your hope on your "winter" vest.....and then wondering why you've got a hole in your chest.....