Discussion in 'Commodity Futures' started by Rickshaw Man, Sep 11, 2009.
I thought we might be turning the corner.
NG has more to go down. UNG is rolling next week....
I dont think so. I think UNG could go down because of the issues surrounding that ETF, but we have likely seen the bottom for NG.
The last time the rig count was this low was back in 2002. That was 7 years ago with less buildings and less people. Now here we are 8.5% greater in population with many more buildings then before.
At some point, supply of the gas is going to get exhausted operating with so little rigs.
My expectation is for the price of gas to fluctuate, but Im fairly certain that it wont get much lower then this.
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