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Edited by Aly, 31 August 2009 - 08:45 PM.
Update on Natural Gas Trendlines
Started by
inamosa
, Aug 31 2009 08:45 PM
3 replies to this topic
#1
inamosa
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Posted 31 August 2009 - 08:45 PM
Getting close to tapping the first trendline...
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#2
Mike
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Posted 01 September 2009 - 02:03 PM
This should be interesting:
http://stockcharts.com/c-sc/sc?s=$NATGAS&p=W&st=1994-05-01&i=p82607364126&a=156126985&are=880.png
http://stockcharts.com/c-sc/sc?s=$NATGAS&p=W&st=1994-05-01&i=p82607364126&a=156126985&are=880.png
#3
inamosa
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Patterns-based Trader and Investor in ETFs and Futures
Posted 03 September 2009 - 07:59 PM
Update:
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"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#4
Islander
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Posted 03 September 2009 - 09:57 PM
We call these buying opportunities.
The fundamentals suggest that the demand for NG will rise this fall, and its price will drive the rise as contract prices, compared the price of heating oil per MMBTU, make NG the preferred fuel in dual fuel plants.
Then suppose the Administration makes a blunder in energy policy (not impossible). It is the gold door and worth half a position. Of course I am the man with a full position of HGT waiting for deliverance and it is lonely and getting more so too.
Best, Islander.
