Does any one think Nat Gas is makiing a base?

God has created a large pile of firewood for the south with the help of Dolly, Edourd, Gustav, and Ike. Indicative of the winter to come!!!
 
Covered some this morning but still short. I want to be bullish but I need more evidence. Will probably give up a lot in potential profits but well worth it for the confirmation.
 
Need at least 3 more weeks of bullish inventory data to say this is a base, otherwise all bets are off for a bottom.
 
Natty action and what I am seeing on deal flow across ICE leads me to believe we have been building the downside of a trading range that may extend back up to the 7.20-7.50 area initially.

Crude has bled like a stuck pig, the equities have been crushed and we hold the topside of 6.50. Nothing really bullish to start a good run at the moment but money pump may be pushing to now go establish a topside of the coming range. I have been seeing solid accumulation/short covering type buying since the beginning of the month, and it has not abated.
 
hey ovvo it looks like your shorts worked out well congrats, i have been looking long here again and in and out. 6.50 looks to be real good support but who knows. Hey roach i was gonna ask you what you thought (I remember you were in the biz) but now I guess I know!
 
I covered my remaining shorts, thought about going long and then reshorted. (6.88 avg price)

Fundamentally we are at an inflection point, so we'll see how the seasonal factors play in with the next 2 data points.

I am keeping a tight leash on these shorts though.
 
Figures.....as soon as I type the prior message my system reverses.

I am now long from 6.95.

Hopefully the data will affirm my position.
 
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