Natural Gas: Oh What A Jolly Trade That Was

Between August 21's:
Ya Know What Seems Cheap? Natural Gas Seems Cheap.
From futures 2.1660 down 0.0520.



And September 9's "Natural Gas: And That's a Wrap":
After popping above the July high (2.510) the futures seem to have lost their oomph, 2.521 last, 2.531 top tick.
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.....

We caught most of the sweet spot of the upmove—except the 15 cents 2.60 to 2.75 when Saudi Arabia got bombed (Iran didn't put us on the email list) and more importantly ran away like the cowardly traders we are.
And now?
Not the panther, waiting to pounce, calmer, more relaxed:

 “…For, after all, I had been into cocoa a bit myself. That was back when The Great Winfield had discovered cocoa trading. Occasionally in those more leisured days I would sit with him lazily watching stocks move, like two sheriffs in a rowboat watching catfish in the Tennessee River….”

-'Adam Smith', Supermoney 

Just watching the river flow.
There is still a lot of gas around but we are playing a tricky little timing game before the winter withdrawal season begins.

From the U.S, Energy Information Administration:
Weekly Natural Gas Storage Report
for week ending September 27, 2019  Released: October 3, 2019 at 10:30 a.m.

Working gas in underground storage, Lower 48 states Summary text CSV JSN
														Historical Comparisons
	Stocks billion cubic feet (Bcf)													Year ago (09/27/18)						5-year average (2014-18)
Region	09/27/19			09/20/19			net change			implied flow				Bcf			% change			Bcf			% change
East	826			794			32			32				758			9.0			828			-0.2
Midwest	973			934			39			39				831			17.1			945			3.0
Mountain	199			194			5			5				176			13.1			202			-1.5
Pacific	291			286			5			5				262			11.1			312			-6.7
South Central	1,029			998			31			31				826			24.6			1,048			-1.8
Salt	220			207			13			13				180			22.2			268			-17.9
Nonsalt	809			790			19			19				646			25.2			781			3.6
Total	3,317			3,205			112			112				2,852			16.3			3,335			-0.5
Totals may not equal sum of components because of independent rounding.

....MORE

So back to the 5-year average for gas in storage and running ahead of last year.
And we'll be back after the EIA Weekly Update
In the meantime front futures are up 0.009 at 2.256 with the out months down fractionally.