Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: tropical update, Ng/CJ
In Response To: tropical update *PIC* ()

Hi Ceejay,
Thanks, and that "magic pen" of yours sure makes things clear !!

Any thoughts on this mornings EIA report or the following behavior ????

The preliminary "guesstimates" on Wed. were:
EIA Final 60
DJ.....P 62,... Range 51, 57, 80
Platts P 58-62, Range 51-72

So .... The build came in below or at estimates so one might have expected price to go up as demand was greater than expected. I allow the difference was not all that much.

So, apparently the implied supply/demand of the report was not enough to really impact the market. One might conclude that price just continued down in accordance with the "seasonal trend".

Nor did the Sequoyah 1 Nuclear plant in Tenn. going down have any effect. There is hydro in that area but with the heat is likely going full bore, so some backup had to come on line. Maybe, coal, but in any event nothing observable resulted.

My observation is:
Price did immediately drop, and I have "no clue" what happened around 1pm eastern. What I do notice that there was little "volatility" over the rest of day and the market seems to have found a "floor" around 4.36.

We'll see. Today may just be part of the "pullback" I was expecting (a little bigger tho), then again it may run right on down to the 4.2 area again !!!!

So far, the Heat has had "little short term impact" and it is not like everyone doesn't know about it !!!!

I suspect production may be a bit on the high side and some producers with gas in "rented storage" that were looking for higher prices are shedding some of that every time the price moves up a bit in this "trading range".

On the storm you posted:
I don't want to see folks get "trashed in the Gulf" with a severe storm, but I do want to pay attention. I don't know that the storms of last year are all that visible looking at a 2 year daily chart.

Anyway, Life goes on !!!!
Thanks, Lee