Wow, does NatGas ever look sick! We managed to wring a theoretical gain of more than $300 per contract trading from the long side last week, exiting on a 3.345 stop. However, judging from the way this crudball is eating through important supports, one could infer that the price is going to $2 or lower (not that that would cause anyone’s heating bill to decrease by even one iota). Next stop: 3.242. If you trade this one — long or short — it’ll be catch-as-catch-can. _______ UPDATE (November 22, 8:01 p.m. EST): Just when lower lows were beginning to look all but certain, this zombie has rallied to within an inch of creating a bullish impulse leg on the hourly chart. If it should do so by popping to 3.484 today, the December contract would become a bull trade on the hourly chart for the first time in as long as we can recall.
