good support at 0.06 puzzling???I find this interesting as the quarter was not that great and that was a quarter with much higher commodity prices than today, although they are recovery somewhat, but NG is still getting slaughtered.
when NG stops falling is anyone guess as withdraws were spring lile and no wher near historic levels.
last year every week in february was plus 150 bcf withdraw, so what a huge difference this will make to storage levels going into the shoulder season.
but whoever is buying at 0.06 must have their reasons, it's not me.
but even more puzzling not many sellers at 0.06 even with the planned consolidation, so again why buy before the reverse plit???
at least spending is almost zero, which will preserve balancve sheet until the next bond inter5est payment and then kaching bug interest costs continue.
so is there any hope for PMT?
sure there's always hope but we need NG prices to start to recover and there is no sign of this as yet?
oil production has rolled over and falling noticably now, but NG production is still quite strongf and if it weren't for the increase in demand for most drivers except home heating, we wojuld be in terrible trouble..
I know I sound a littel negative and I have said I will buy at 0.05 but I'm not going to chase this one, not until I see some changes in NG pricing and who know when that will occur.
GLTA DYODD