Updated
At A Critical Junction
In the last 6 months I've been day trading NatGas after swearing I would not touch it ever again-it's called 'the Widowmaker for a reason No other instrument gives me such cold sweats every night, especially 14-15 Sept when price shot 10% up then 12% down the next day for absolutely no reason. However, high risk, high reward, as they say and I've relied on it to rebuild my account after some rookie moves involving Nasdaq.
So, what to expect next from Nattie? It depends on the completion of that colossal H&S, and on Freeport LNG, which hasn't received permission to resume activities after the explosion. My guess is we have to wait till mid Nov for any reliable climb - meanwhile we will be down and ranging. No trade for me next week, I fear.
So, what to expect next from Nattie? It depends on the completion of that colossal H&S, and on Freeport LNG, which hasn't received permission to resume activities after the explosion. My guess is we have to wait till mid Nov for any reliable climb - meanwhile we will be down and ranging. No trade for me next week, I fear.
Note
Still ranging. Freeport is still promising but not delivering.Note
I wish I had listened to myself when I said no reliable climb till end Nov. Looks as if Freeport won't be open till Dec.Note
My fear is it might follow Bitcoin and range for a year.Note
The Widowmaker strikes again...Note
Near the end of Oct, I asked an UK Chartered Mechanical Engineer if Freeport can resume operation mid Nov, given the status of its data and plan to be submitted to the regulators. The answer was -end of Nov possible, but very very tight and depends largely upon how well-oiled (corrupted) the regulators are, which is not very well.But I didn't listen, believing in Freeport's promise to BP instead. I also ignored a small H&S formed after the gap was filled.
Hmm, now experts have confirmed all that and say the place won't be open till JANUARY. With all the extra build-up, the freezing weather -delayed by Nicole, won't help the price much anytime soon.
Note
Forget Freeport, forget exporting to Europe-storage there are full with LNG, according to the NY times. The main thing is the intraday chart now. We're ranging horribly.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.