RE:RE:RE:Cold snap this weekAboveBoard wrote:
checkup wrote: I did not see this low coming. There is technical support at around $2.50 for Henry Hub....FWTW
Supply draw on Feb 2 -135, above 5 year average of -187; on Feb 9 - 173; below the 5 year average draw of -141. Freeport needs to come on line.. thats for sure.
A low could possibly be $1.95/$1.59 based on current situation. Posted ng $2.50 - $3.50 range awhile back. If the "puppet masters" push ahead full speed, it may result in a "oil covid" situation. Those who understand know what Im saying. Absolute bottoms difficult to predict as well as absolute tops.
my neighbor kept bragging about ng and telling me it would go $10 plus and more. I tried to explain that the numbers being touted were bull$hit. When ng was $3.50, I t told him he may want to hold off buying more gas plays such as TOU, etc. I told him ng was going down to $2.50. He became very angry. He could have saved some $cash. Ever time there is a surplus, less push for production occurs. There is a lot of ng on stream and available. It takes time to work through. there are even greater forces, imo, who can manipulate,situations. it occurs over and over.
regarding the terrible loss of lives in the war...here's what really is occurring. MSM propaganda really sucks in the sheep. The war is sad.
https://www.youtube.com/watch?v=cmIKBEiaRyA&t
Above, IMO opinion I concur with your NG price analysis, so much so without logging in I had to un-ignore you to quote lol.
The long term technicals rarely lie they are quite accurate extended out from going back up to 20 years. Add in the current noise (fundy's) storage weather etc. and even the most undervalued stocks (the few that are left out ther) are still taking a pounding now. (SDE as example)
I posted previous support numbers for NG on this slide also, and will offer now a recap. IMO, lines of defense NG are 2.42 (all +/- and low today was 2.44), if it fails there is a long term bottom support at 2.05 +/-) going way back and if they (whomever they are lol) choose to be p**cks and we all now they can and possibly will be, I also have 1.59ish also as the very ugly beating.
Began building what might turn out to be a large HNU position to the suspected confirmed bottom if opportunity rises, wherever that will be and it should be sooner than later(soon as April contract front end starts trading) and from there up to end of 2nd qtr. we should see a short lived profit possibility of 150 to 300% return.
That's it going to bed now, cheers.