Naturally Bullish for Nat Gas

wonderful

At least I do not buy a lot PUT here

Hello traders, I haven't written a directional piece on any commodity in a while. I seldom like to take a directional position as I normally rely on sophisticated systems to do number crunching for me. However, when I find something I really like, I don't mince words I just come out and say it:

I like Nat Gas right here on the October contract and I think it has a few nice short covering rallies ahead.

Too many people got long around the $3.75 area thinking a hurricane or two might pass by the Gulf area or that it had fallen enough or had support around that level ($4) there and I'm here to easily point out, that it didn't old (support) and that the longs have gotten crushed, this month in particular.

Even one of the best automated systems I know of for the Nat Gas contract has gone sideways to down a bit on this one the past month, and that's hardly usual. I do depend on that system for most of my shorter term trades, even started stepping into the Nat Gas ETF on the NYSE, symbol UNG $10.72 at Mondays 8/31 close (albeit at higher prices the past week).

So why is it that we aren't hearing from fundamentalists on how "cheap" Nat Gas is at these levels?

I mean really now, look at the long term decline since the run up last May through July to $12 and nothing but slip-slide all the way down to where we are now:

lwjnbtx

I think NG price is heavily manipulated. All the news are negative so far. Last Friday might be a short covering, of course it is rebounded from around the $2.5 support, and we could see it trades around $3 next week. jm2c. If it drops again and below last Thursday's low, and we are looking at $2....

yam

reks

Thanks, ding.

licai5688

Thanks.