Thursday, May 7, 2009

Natural Gas Report: Great Time to Get Out

If you are still invested in natural gas, today may be a great time for an exit. An injection of 95Bcf was reported today. The storage curve is still looking awful, numbers are significantly higher than last year and are touching the top of the 5-year channel:

BNN interviewed two natural gas experts today. One is slightly bullish (Ira Eckstein, Area International Trading) the other one, Randy Ollenberger from BMO, sees real danger of natural gas prices touching a $2 handle. Prices have run from $3 last week to over $4 today! You can watch the show Commodities Report here.

As of 1:01PM:

UPDATE: Current price at 3:20PM is now $4.12. Here are the 3-month and 1-year natural gas prices charts:

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1 comment:

Data Surfer said...

agree... i exited today already, a little too soon though.

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