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Wednesday, August 26, 2009
ERF and the October Natty
No premium coming out of Natty I am long just one contact QG october at 3.215
that is eight cents or about 175 on the buy in the chart says to sell but I am going to hold and hope I lose money at first because I want to buy 2 contacts down there hurricane danny is forming
but they are saying it will hit carolinas and NJ and Long Island, NY not much in terms of Disrupting gas supplies but further North we have SAble Island and a host of Canadian gas spots
this ERF I reco'd today snapped from 20.49 to 21.09 as soon as Natty perked up. these days
UNG goes up or down based on something other than natural gas prices so I am unimpressed what the cftc has been able to accomplish here. this fund was 63 ish when GAS was 13
but they have scenarios whereby we don't make money if gas doubles under the current
criteria not definite bot possible scenarios I really would be beside myself if I was right for a double and the ung was unchanged I do not want to be open to that so fix it or we leave it alone for the momento.
The october contract has the EIA tomorrow I think we are finally going to see an improvement
as production cuts and shutdowns were made across the board i look to be long tonight and
play for the numbers and if we get real lucky a new hurricane will spark a decent rally
all the way back to 4
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