After a major 20% rally in natural gas (UNG) the last few weeks on soaring European prices due to the war and pre-winter hedge fund buying, natural gas prices are under pressure. There is talk of new gas-fired plants going online. In addition, (as my in-house weather program shows below-available for free in my newsletter), similar El Nino events result in an overall warm winter globally. The Indian Dipole is also a very important global teleconnection for commodity weather. The cooling waters over Indonesia are signs the DMI will stay positive. The two checked boxes of El Nino and the DMI suggest a warm winter overall. If El Nino remains weak to moderate, then some colder weather will create market volatility in natural gas as we head towards winter. However, if something we call Global Angular Momentum (GLAAM) goes positive and strong El Nino results, natural gas prices will fall well below $3.00 this winter. Anyway, we have frequent trading strategies in my WeatherWealth newsletter--the only all-commodity weather newsletter in the world with trading ideas. The inverse natural gas ETF (KOLD) could have another 20-40% up if El Nino turns strong. I invite you to a 2-week free trial of WeatherWealth. Since you are a follower of Elite Trader, you may be eligible for a 75% annual discounted subscription. My newsletter has 100 issues a year and helps commodity traders in many markets around the world---Here are the headlines of some of the recent issues. Thank You, Jim Roemer
%% Good time to take profits in oil + gas ETFs................................................................[Edit for trades, investors may want to keep buyin'............................................................]