Natural Gas up big

Discussion in 'Energy Futures' started by JayS, Feb 23, 2003.

  1. JayS

    JayS

    Up big again tonight. Anyone trading it? Been trading CL and haven't kept my eye on it like I should.

    30 minute/24hr chart below
     
  2. JayS

    JayS

    daily chart
     
  3. JayS

    JayS

    Up another 10¢ from my last post. Wooh!
     
  4. do you trade the nymex electronic products ?

    are they are full size or mini contracts?
     
  5. saxon

    saxon

    I went short QGs at $6.50 on Friday.

    My long term indicators tell me that we could be near the start of a bear market (12-18 mos) in natural gas. Hoping to cover at $3.25 or less. All the war angst aside, unless the economy comes roaring back to life this year, I don't think current gas prices are sustainable for very long.

    If it is a market top, however, I would not be surprised to see some dramatic spikes upward to the mid or high 7's before it turns lower. Good luck trying to trade those moves though.

    We'll see...
     
  6. its over 8 dollars. Damn. Hope you didn't get wiggled out.
     
  7. JayS

    JayS

    Yeah I trade on NYMEX Access when I need to (full contracts, mini's are traded on Globex). Problem is that you have to have someone enter you order in a Access terminal (pain in the butt).

    Anyone think we can break 2000/01 highs.
     
  8. JayS

    JayS

    Just hit $9.00 on the spot month (expires in 2 days). Thats a $24,000 gain per contract if you bought Friday's close (margin is $6,750). Be very careful in the energies.
     

  9. Maybe its just me, but this is probably the biggest commodity story of the year. Not an inflation expert, but shouldn't we all be worry about this?
     
  10. Ikspec

    Ikspec

    Am I reading my quote right? The front month NG contract is up 2.53 which amounts to 38%?

    Ik
     
    #10     Feb 24, 2003