natural gas is close to 9 a btu, on mild weather....that could throw a damper on the bulls case as well. If there is a draw-down in that report tomorrow....look out.....retail sales will be a mute point. I think THURS, FRI, MON=very important days to the psyche of the "POWER GODS/goldman sachs"=do they throw the chasers a bone-and get greedy themselves-and make another little run, or do they just roll the market over from here, and start shorting the market down? Of course, if oil explodes, they will just be following the sell-off, not determining it--as everyone and their brother will be selling this bull market run Jobless Claims 8:30 ET Personal Income and Outlays 8:30 ET Help Wanted Index 10:00 ET NAPM-Chicago 10:00 ET EIA Natural Gas Report 10:30 ET 3-Month Bill Announcement 11:00 ET 6-Month Bill Announcement 11:00 ET Chain Store Sales 12:00 ET Farm Prices 3:00 ET Money Supply 4:30 ET
The National Weather Service HERE: http://www.erh.noaa.gov/forecast/MapClick.php?CityName=New+York&state=NY&site=OKX
Last time oil broke thru $64 from the downside was August '04. The SPX is up about 25% since then. Thank you for playing.
my g/f friend who is an analyst for marathon says that the future for NG is very bullish based on the supply/demand fundamentals. all I know is if we have any drawdown in tomorrow`s report, and a cold front hits the east coast, ng could spike past 10 btu by next week. Too bad amaranth`s positions were un-manageable--looks like they were directionally correct longer tem.