Sunday, November 26, 2006
Jan Natural Gas - e-minNY
The heating season as been a balmy one thus far, but with a major cold shot set to move into the northeast next weekend, we see a brief weather related play in natural gas and have picked up the January e-mini futures contracts. The colder forecast for later this week may grease the way up to the $8.44 area and then into the $8.55 range. I will likely hold only for a few days since longer range forecasts for December by many pro mets who I follow are calling for transient cold snaps intermixed with warmer than normal temps. Many of these mets believe true winter cold won't lock in until the end of December.