While stocks try to gain some footing here off the open, Natural Gas prices are running higher (Up +5%).
$FCG has reversed too, already above its 20day average volume, after printing a fresh 52 week low.
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It seems the news cycle and talking heads are only putting fear into the market at this time. While I don’t think things are great, we aren’t China. I wonder if this is just people’s egos and wanting to get heard on the airways or if they are trying to manipulate retail. I am leaning towards the ego at this point.
Be careful with Natgas. 60 day weather outlook conflicts with short term technicals.
Warmer winter in northeast.
I am looking for a retest to /NG 2.03 – 2.11
Cold as fuck on the left coast.
I’m at JFK right now after being here for the week. Cold as heck here
Yeah – I looked at the natural gas thing last year and was unsuccessful, but the key price driver here is that most of the users of Nat Gas are in the northeast. we are forecast to have a mild winter (and so far we have). Natty has also come under pressure because distribution costs have gone down because of fracking in the Marcellus shale provides a closer source than previously supplied (gulf coast). last year’s winter was not as bad as predicted either, although there was a cold snap that brought up prices for a short time in February. Even if it is cold in most of the US, the NE is what you want to focus on. Read the EIA reports on the website if you are thinking of trading and look back at last year. Also look at the weather channel for temperature projections. Winter of 2014 was bitter cold in the NE and brought the roaring prices for the natty and heating oil. That weather is not present this year
They do not use as much Natgas as east coast.
For a short term trade it’s a winner.
I believe you live out that way. Am I mistaken?
True, the East Coast historically uses more Nat Gas in winter, but does the East Coast have an active Nat Gas storage leak? Aliso Canyon is spewing Nat Gas at the moment.
I am out of the office … just watching. Placed a standing order to buy more SCO at 145.65
OA, are you in this trade? Looking to get in?
Well duh, it’s Thursday and the EIA data showed the stupid drillers dropped production. From EIA..Working gas in storage was 3,643 Bcf as of Friday, January 1, 2016, according to EIA estimates. This represents a net decline of 113 Bcf from the previous week. Stocks were 535 Bcf higher than last year at this time and 464 Bcf above the five-year average of 3,179 Bcf. At 3,643 Bcf, total working gas is above the five-year historical range………..We still our above yearly levels, but it is no longer at the crazy levels it has been at in 2009. Nat Gas can’t be exported, I still believe? (have to check), so it is a pure American Play. Yet, with the ROW dying out there, it is tough to be long anything…but I am a Bear watching a beautiful bubble burst.
Yep, no LNG until 2017
If it helps, I am seriously thinking about cutting my losses in UWTI right now. Down 50%, thankfully a small position but still didn’t expect to lose that much.
Should probably just hold if you are already down 50%. I closed my DWTI short for a 5k loss. Looking to re enter closer to 300.
Hear what you are saying but that’s what got me the 50% loss. I will probably do as you suggest because I can’t find any alternative longs right now that I feel good about – why not just let it ride with the middle finger high.
The 32/barrel price needs tested during our market hours for legit bottom, IMHO.
Bought small UNG.
There goes my Nat. Gas bill. Going to probably be $22.00/month or so now.
I have heating oil – going to fill up my tank in the next few weeks once the price drops. Haven’t been using much and will take advantage of the lower prices.
AAPL below 98 could get fast quickly – looks like could go down to 94-95 I traded the long at the open and broke even – currently on the sidelines
$TSLA trading in a world of its own, coiled up for something.
Anyone shorting Gold here?
I want to buy here which probably means we have more downside ahead. This slow motion meltdown isnt good. Capitulation could be 5-7% no ?
if these lows don;t hold we go down another 100 in the NQ. This is insane shit.
it does feel like capitulation though.
Got NQ 4304.5. Trying to get stop to BE asap/
I’m in here at 4308
I like the time of day left.
stopped at BE
People asking my what level the NYSE circuit breaker is. That’s how bad sentiment is right now
those types of sells are a problem in the last hour
Question for me is IF we get a bounce how short lived will it be ? Or a crazy short covering rally ?
could be the biggest short covering we’ve seen in a while. Lets see how we close.
any bear that is still holding is being very greedy : )
out for now -4
Considering Im like 10% short in my trading account, a small masochistic part of me wants to see an ugly close. Then I think we may get a real rally
Crash mode. No way in hell I’d be buying here. This will get uglier. The Chinese are in full panic mode and it will continue to affect our markets. Cannot escape it. Anyone trying to catch this crash is not smart.
I want to thank you for this comment but you’re probably not smart enough to know why.
long 4308…last try for the day
Reloaded at 4303 again, stop to BE
We’ll see who’s smart. You tried catching a falling knife all day and get cuts! Not too smart.
Guess you don’t know what crash looks like yet. You will. Hahaha
How’s that buy working out? Hahaha
Jesus look at FCX. Im not winning here but thats gnarly
FCX is showing markets globally headed lower. Wait until Chinese markets try to open again!!! Haha
Shanghai surprise! Shanghai bubble burst now US market bursting. Chained market going to be very ugly when reopens and will crash.
China market