Natural gas Journal

Quote from chicago1234:

1. coal has been up a lot

2.big fund in houston was MEGA short and even with big var and hedges etc need to cover sooner or later
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What coal contract has been up a lot???

NYMEX barge coal for June was +0.64 to $46.17 yesterday.

Powder River was $7.55 bid and CSK-BSK<1% was $39.50 bid.

Big deal.
 
NG xxxxxxxxxx YM xxxxxxxxxxx CL xxxxxxxxxx EUR/USD
b8.11 xxxxx xxxxxxxx s8.27 xxxxxxx s8.30 xx b6.24 s8.36
xxxxx s9.13 xx b8.40 s9.05 xx b8.41 s9.09 x b8.51 s9.08
b9.41 s9.52 xx b9.27 s9.48 xx b9.33 s9.48
b10.54 s15.29 b10.25 s14.50 b11.27 s14.28 b10.26 s15.53

Sympathetic correlation between the energy complex, stock index futures and the dollar is illustrated above. Turning points for Friday May 8 2009 are shown: b=bottom or buy, s=sell or top. The price gyrations are based on minimum 35 points bar-close-to-bar-close for each swing from each turning point time. Read them as columns under respectively NG,YM,CL,USD. Times used are EST.
In NG 10.54-15.29 there are 2 small valid reversals within this upswing which have not been included.
 
"What coal contract has been up a lot???

NYMEX barge coal for June was +0.64 to $46.17 yesterday.

Powder River was $7.55 bid and CSK-BSK<1% was $39.50 bid.

Big deal."

==>interesting to see you know your domestic hillbilly coal prices well
yet the coal market is more intl.
china
australia
SA
etc.....
freight
 
Quote from PAPA ROACH:

Not alone, it does provide buying and is a good sentiment indicator for public investment into commodities again as an asset class. It's kind of funny actually, watching dumb money poor into natty without regard of what will transpire in the very near term. I am riding along with some bull spreads at the moment, but make no mistake that this new new length will provide the puking to finally push us under $3. I can't tell you how high we go and for how long, but the longest time period would be the first week of June. On price, I am getting hammered by producers over the last few days wanting to add shorts to their hedging. Just yesterday, I had a producer sell the balance of may swap at 4.07 and bring gas back online that he had shut in late last month. My point is, as price deviates from fundamentals, producer selling will accelerate, providing stronger resistance.
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You have an authentic background in NG and write good stuff.
 
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