....just before CNBC started mentioning it, I noticed that natural gas had gone up 9 cents/Mcf. Just after I noticed that, one of the CNBC talking heads said there was a mini-rally in natural gas today.
By the way, many of the Bakken companies reported losses in derivatives, no doubt due to the high price of spot oil during the past several weeks. It's possible that the price of oil coming down below the ceiling that these companies have set, and the "mini-rally" in natural gas just might be a huge positive for Bakken companies.
Just idle chatter.
Natural gas is up 10 cents on the day (at the moment).
There was a man on CNBC about a hr ago that says NG is going back to the 2.60 range, in the very near future,, he also indicated WTI to about $92.
ReplyDeleteWe'll see. But the "mini-rally" in natural gas today was nice to see ... if one can call natural gas at $2.40 a "rally" of any kind.
ReplyDeleteThe talking heads are more often wrong when predicting the future than they are right. Flipping a coin is a better predictor.
ReplyDeleteActually there are so many talking heads (and some of them change their opinions more than once the same day) one can find any opinion that fits one's world view. Smile.
DeleteI see the same thing in sports. Even if one team is going to win by a landslide, the announcers come up with all kinds of scenarios in how the game could change -- anything to keep the viewer from switching stations.