Todays move was more about painting the board for month-end than anything, but it does show you just how short the spec trade is. I fully believe we will get a massive cold induced short squeeze in the coming weeks/month, I am not convinced we go just yet though.
Cash market was absolutely whack for the weekend, extremely volatile. The Hub ran up strong, yet there were points that traded as low as .20 cents for the weekend (Centerpoint)!!! Fucking nuts!!
The coming 7-10 days of weather is forecasted to be above normal, add to that 2 big LNG cargoes coming in next week, and I believe there will be a big jump in gulf production recovery next week. Tennessee Bluewater is about to come back, which will increase the gulf output a good chunk.
I am not a seller for anything more than a quick scalp, this market is just too short to trade a short position for me. I am patiently lying in the grass, looking to take a long position and aquire some bull spreads.
Cash market was absolutely whack for the weekend, extremely volatile. The Hub ran up strong, yet there were points that traded as low as .20 cents for the weekend (Centerpoint)!!! Fucking nuts!!
The coming 7-10 days of weather is forecasted to be above normal, add to that 2 big LNG cargoes coming in next week, and I believe there will be a big jump in gulf production recovery next week. Tennessee Bluewater is about to come back, which will increase the gulf output a good chunk.
I am not a seller for anything more than a quick scalp, this market is just too short to trade a short position for me. I am patiently lying in the grass, looking to take a long position and aquire some bull spreads.
