RE:RE:Comments on Report...? Selling D who boughtYesterday we found ourselves sitting closer to $4.00, a psychological pivot / resistance point and just above the 50 day MA in NG.
The rise this am will be short lived. We live in a time of JIT inventory.....(just in time) and that goes for NG too as historically, (less than 5 years) it has not been profitable to hold inventory in NG.
It's a new era of thinking for traders and a the old numbers and storage averages don't matter so much. We have a ready supply of NG and good pipeline delivery infrastructure.
So if you bought this am on the rise before the report, probably you are going to ring the cash register very soon and this will likely repeat maybe another couple of times before we get into spring futures and back to $3.50 for NG.