Thursday, July 16, 2009

Natural Gas Report: Time to Short UNG Again

Natural gas inventories were reported this morning, rising 91Bcf. The storage curve remains well above the top of the 5-year channel, and well above last' years numbers:

Storage is 25% above last year, and 18.6% above the 5-year average.

The market responded by pumping prices by 7%. This is a gift too goo to pass. Therefore, I just went short natural gas again. Timeframe is one to 2 weeks, ahead of hurriocanes. Do your DD please.

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