Re: Natgas is a tech. buy/Ronbo/Hal
Seems like Ronbo has been hitting "home runs" lately !!! He is likely snoozing about now ??
Oct. Ng seems to be "quite happy" bouncing off the 3.85 level the past number of days ....
Today's reaction to the storage report was probably the "most benign" that I can recall !!!
Even though one might say it was "bearish" with that 73 Bcf build, it was "right on" all of the estimates, which should start rising this time of year anyway.
Looking at the Intraday activity just before and after the report it simply looks as if those that expected a more bearish reaction sold off before the report, with a quick rebound immediately after, but still, not much of a move either way !!!
Price appears to be right back to "happy land" around 3.9 where it has pretty much been centered for the last 7 or 8 days now.
Right now, I feel like its on a "narrow trading range seesaw" trying to hold a bottom at 3.85 and bouncing up to 3.98 or so. Sooner or later, it will have to break out of this range !!!
Ronbo may well be right, we should find out shortly. The seasonal charts do turn up pretty soon also.
Post your thoughts as you see them.