From Zmansenergybrain.com : Early Read On Natural Gas Storage: The Street is at 172 Bcf. Last Week: 207 Bcf withdrawal Last Year: 144 Bcf withdrawal 5 Year Average: 126 Bcf withdrawal 10 year Hi: 46 Bcf withdrawal 10 year Low: 167 Bcf withdrawal
There can be "excessive" volatility after the release of the report because of a smaller than usual trader population in the market. Tread/trade carefully. :eek:
+/- 175 draw is what we are seeing, good draw out of east, not as stout of a draw in prod region. like nazz said, thin trader population today will likely cause excessive vol after #.
Sure didn't look ready to roll over after recovering the last couple days, I suppose it depends on the number but a run to 6.10-6.20 looks plausible...Any else have a skew going in?
I certainly think we are in a buy-dip mode as long as weather holds up, which it is so far. I have a large target at $6.72. Serious cold shot post new years, if we come back on Monday and it is still there, I cannot see how we don't continue to rally. Biggest risk for length here is a weather shift over the weekend in the forecasts.
Which service do you guys use for your weather predictions? I'd like to see something like this: http://blog.commodityweather.com/com_wp/wp-content/uploads/image/US min t.jpg
This one is probably the most popular among Energy Funds. www.wsi.com You can try www.accuweather.com if you like.