RE:Cold Coming Back Feb 1The people at BamWx wetaher have been pretty good
at calling the weather this winter so far.
https://x.com/bamwxcom/status/1881708036609483170 From what I can gather most forecasters were expecting something
called the MJO pacific oscillation to bring in some warmer
weather from the pacific for NA soon.
Guys at BamWx say that might not apply due to circumstances this winter..
If the early Feb cold pans out that would be quite the contraian
call by them and should cause a spike in gas for prompt delivery
in a few days.
I would be careful with gas etf's for a while. The gas traders really
have thier hearts set on pocketing the difference between spot
gas and next month futures when the sontact turnover occurs in the
next few days. UNG could down 10% and BOIL 20% really fast
under these conditions. But will proabably bounce back up
once the front month switchover is complete.
Right now gas traders and consumers are doing the gas plants
a huge favour by keeping natgas prices cheap.