We'll wait and see what the storage report and weekly update have to say on Thursday. If they come in bearish we might have another shot on the long side before the snow flies.
As we bid goodbye to the little money-maker, we say vaya con Dios amigo.
From the CME:
Previously:
August 21
Ya Know What Seems Cheap? Natural Gas Seems Cheap.
From futures 2.1660 down 0.0520.
We do not recommend initiating positions within 24 hours of the Thursday storage reports unless you a) are a good guesser as to what the number will be and b) (and possibly more importantly) you can guess how the crowd will react to said number.
It's the old Keynesian beauty contest paradigm.
Back in the day it used to be easier, when you just needed to know the temperature outside the NYMEX and whether the traders felt chilly running in the door....
And many more over the ensuing few weeks
