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