Thursday, August 20, 2009

more natty

there will probably be one more push down now that all these announcements of the seven year low have been announced then the bottom fishers have to come Im out right now except for the UNG which collapsed as things got hit late once starting shining the light on the lows they are cutting production seriously now they cant store any more and they get fined if they have excess they are in a tough spot because they have operating costs if they remain dormant they have no choice now-the bullet is bitten- now will the reversal be intraday or many days we are entering twelve down days consecutive session there five up days and 13 down session prior to that so it is no stranger to runs and we can probably afford to miss the first day and catch the next four we will have to see
im already in UNG as I said now It wont be long where the shut downs now will produce a draw in the EIA they have to manufacture it they can't survive at these levels forever- some have hedge deals for like 60% of supplies where they still get 6-7 dollars that wont last forever either
I would guess by next wednesday this is higher but we are gonna have to keep a close eye
Natty owes me now the gloves are off