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January 19th, 2018

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Natural Gas

from ChartWorks:: published by Institutional Advisors

Bob Hoye
Technical observations of RossClark@shaw.ca
January 5, 2007

Last week’s natural gas inventory drawdown of 46 Bcf keeps the inventory level of 3,121 Bcf at the second highest level for the third week in December. Without a severe cold snap there is a likelihood of spot prices drifting to $5.50 or lower in January.

Arrows identify when inventories were at multi-year highs in the first week of September and again at the peak in November

Working Gas in Underground Storage
(Third week in December marked with red diamond)

The cumulative decline is running below the pace that helped create spike highs in the price in 1995, 96, 97, 00 and 02. Longer-term, the models following the first quarter of 2007 look exceptionally bullish with a new 21-month high being the norm by the end of next year. The stocks should provide significant buying opportunities through January-February.

Bob Hoye
January 5, 2007

EMAIL:: bobhoye@institutionaladvisors.com
CHARTWORKS WEBSITE:: www.institutionaladvisors.com

The opinions in this report are solely those of the author. The information herein was obtained from various sources; however we do not guarantee its accuracy or completeness. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance.
Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities or options or futures contracts. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related investment mentioned in this report. In addition, investors in securities such as ADRs, whose values are influenced by the currency of the underlying security, effectively assume currency risk.
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January 19th, 2018

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