Natural Gas Stocks Entering Seasonally Strong Periodfrom ChartWorks:: published by Institutional Advisors
February 7, 2008
Technical observations of RossClark@shaw.ca
Inventories of natural gas are not only coming off their seasonal highs, but are declining at a faster rate than seen in the past few years. Following years with high inventories the price rally takes twelve to twenty weeks, topping in April-May. We are currently six weeks into the move.
The stocks are currently bottoming in the normal time window of January through early February. Price advances in the XNG are either around 28% or extend out to 60% over a period of three to eight months. Risk should be controlled at this month's low. Names to look at would include Encana (ECA.TO), Progress (PGX/UN.TO), Proex (PXE.TO) and Sterling (SLG.V).
February 7, 2008
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