Hi Lee,

I see buy signals here today for both NG and a host of sector stocks. My only new thought is that the lows may finally be in...looking for a possible short-lived pullback to appear in the next week or so to test and kiss this most recent low good-bye. The weekly chart I posted with today's inventory numbers shows a clear picture of the potential upturn IMHO, as the two year uptrendline (not drawn) was tested and has held. A move through the $4.25-4.30 area should confirm a turn, but a close above $5 remains the elusive clincher for a bonafide new bull.

Best regards

PS: Updated the weekly chart below. Almost 24 months now since the bear market lows were printed. Should have made a new low, or at least tested the old one from August 2009, if the bear was still in force. Of course I could still be proven wrong here, but that's a heck of a long time to go wihtout a resumption of the prior trend. Thus my contention that we are in the staging area for a new bull, one that is determined to gore all baby-faced newcomers who haven't figured out how to hang on to this contankerous beast yet, lol.