Market spec players are waiting for warm weather and positive injections number to jack the price up and squeeze all the shorts.
NG rigs in operation are at their lowest in decades.
Horizontal wells have much steeper decline rates than conventional.
Producers have no incentives to create new production when prices are under $4.
Consumption is increasing.
The crowd doesn't believe the price could go much higher than $4
Chart looks like NG has formed a bottom in the last year.
And the list goes on.....
In other words, the set up is there.
AIMHO