Hi Hal,
Any thoughts on this market of late. I know you were watching it closely.
The last few days ??????????
As I mentioned to Ceejay, it looks to me like production is running a bit higher than folks realize and that there is also some Ng coming out of the "rental storage" on every price bounce !!!
Thoughts on today's bar(candle makes it obvious). Looks like few takers on the up side. I suspect Monday could be a healthy "down day" ????
I thought this market would "wear it's self out" in this trading range (although fairly wide).
Something has to give here before long !!!
With this heat, consumption has to be up, and I notice more Nuclear plants throttled back a few percent.
My take is that this is to allow conventional "peaking/load following" plants to be kept up and operating efficiently.
Even though a Nuclear plant can be readily adjusted 5-10 percent over a day, they are not good peaking/load followers.
Maybe there was some validity to the "expectations of a 3.9 market" and this Heat is helping to keep price in the current trading range ????
Would appreciate your thoughts.
Thanks, Lee