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Ira gave you a wonderful technical report and opinion based on price
action but there is another side to the question and that is, of course,
the fundamentals.
The country is sweltering under intense heat right now and many of the
large air conditioning systems run on natural gas. How much has
been used will be known at the next reserve statement but to think
reserves will be even higher or the same flies in the face of common
sense. Everyone knows that hurricanes are a threat to natural gas
supplies. Some of the Gulf sites have never resumed production
after Wilma and Katrina. The most dangerous hurricane months in
terms of quantity and intensity are August and September so we are
getting close. Being short gas could get expensive in a rush if a
storm moves into the area.
So, whether it's price objectives/triggers being met or weather reports,
there are no guarantees but the choice of placing your money on tech
issues or fundamental issues is always yours and which ever way you
choose, I wish you well.
Bob
At 01:16 AM 7/18/2006, you wrote:
ira,
it would be great if you could find time to
share your opinion on natural gas.
i'm looking for a breakout from the big wedge, to see in the weekly and
daily chart.
on the weekly chart you can see also multiple divergences ( on mostly any
indicator i guess).
of course anyone is encouraged to share his
opinion for a discussion
thanks
carsten
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