Hi Trades,

Many thanks !!

I didn't want to be "too wordy" with the post/question.

On Boring :
Yes, and I don't want to boar you with "fundamental issues" from what I have been looking into. This market doesn't quite know what to do, but I suspect there is more room to go down before it goes up !!

It does look like the 3.9 area might be trying to become a "short term support" but if the "expected storage build" pans out, I suspect it will "head on down".

Looks to me like today's trading showed a lot of "confusion" among the players.

Yes, OI has shifted recently to Oct., Nov as the Sept. contract is fast approaching LTD of 8/29. Will have to wait a few days to see which of Oct/Nov becomes more actively traded. If/when I trade Ng it is the Emini and on a roll it always pushes it "too close" to LTD for my liking !!!!

ON this:
"And there is normal contango on all the contracts so no strong price support on the front months."

Maybe you would comment further ???
Oct price is only a penny higher, then it starts to go up a bit. I have read comments that the forward contango is so low that the "storage sites" may be reluctant to take gas into storage because they can't really make money on it ???? So, excess production is "forced off" into short term distribution, hence holding the price down. Also, that this is resulting in many "power utilities" buying more from the spot/shorter term market rather than hedging with longer term contracts ????

AND on those "longer term contracts", just "who is committing to delivery" ??? A "producer promising to produce" or a "storage site" committing to fill the contract from their storage ???? I have no clue, but maybe a bit of both ??

Many of the "power generation users" take gas directly off the "pipelines" but I don't know how they deal with the gas if they "take delivery" on say, a Sept. contract ??? That gas has to go somewhere !! They do use "quite a bit", so maybe it is simply delivered by the "producer" ASAP, at an acceptable rate for the buyer, over the "pipeline connection available" as "agreed upon" by the producer and end user ahead of time.

Clearly the "physical part of an Ng contract" cannot be "instantly filled" upon settlement". Neither can a "Corn contract" for that matter !!!

Guess this is part of what makes things so interesting. If you trade futures but "never get involved with making/taking" delivery there are a lot of details that you don't really "think about" !!!

Please respond with "any thoughts" that may arise. As you can likely tell, I have become driven to "gain a better understanding" of this market, come hell or high water !!!!

Thanks, Lee