Friday, September 25, 2009

Natural Gas Storage: Overflow in 4.9 Weeks

Natural gas storage inventory report was released showing another buildup of 67Bcf. The total in storage now is 3,525Bcf. This is already higher than the maximum all of last year:

At the current rate, overflow will occur in 4.9 weeks. In the meantime, UNG has amazingly gone up 31% since early September. There are currently no hurricanes on the map. Since UNG stated that they would open up for new investors on the 28th, do they want these investors to pay higher prices?

If desired, you may use the Technical Trend Analysis Tool, to receive analysis and alerts on UNG, sent automatically to you by entering the symbol in the tool's page (powered by INO).

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