Category: Daily Call

Going to Get Set For Storage

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What is the saying about lip stick and pigs– not sure but this market is starting to resemble the animal. No serious momentum down — nor was there any follow through at resistance. All I can say is my option positions in April are a day closer to expiration, which being short out of the money calls works to my favor. Lets get some volatility into this pig and challenge the lows of last month in the $1.50’s.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Wish It Could Be More Dramatic

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This gets very frustrating for the author as this market does not seem inclined to move any where very fast. As previously suggested — perhaps a time to just make income from selling premium — especially from the call side as price have hit a temporary wall at $2.00.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Slight Break Down on the Report

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A little action on the report itself — but in reality it was a slow and methodical meltdown well off of the report release. Price reaction has been trading on fundamental weather forecasts — so to me it will be interesting to watch the selling in the face of 1Bcf/d decline in production and all of the announced declines from the operators.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Going To Need an Alarm — Wake Me Up

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A week later and not much has changed going into the storage report. Last week brought little volatility — what will this week bring.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Taking Its Time

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Well the break above $2.00 is clearly on the “sloth” approach. Though prices did manage to eclipse $2.00 for a moment — there was not enough to force any sort of covering — just additional selling into the close. Not much to add technical — just a struggle at resistance.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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A Little Closer

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It climbed closer to the key resistance at $2.00 but could not finish it at the end. Not sure if the April contract will but one would have to believe that prices are going to run above $2.00 during the Q2 high. Is it now or later — no clue.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Going to Check Resistance

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Went into some of the longer term analysis and expectations in the Weekly section. On the Daily just checking out the resistance levels to make sure they hold. Should they break — expect a short covering rally to send prices $.15 higher. Should they hold the range remains in place and a test of support is likely coming in a few days.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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Momentary Volatility

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found a brief moment of price movement after the release, likely short covering on the number being more bullish than expected, but then prices just spent the remainder of the day retracing lower. Again, no major commitment in either bias. Snooze along.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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The Beat Goes On

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Missed the email yesterday, but nothing has changed with the roll over to April as prompt. Perhaps the storage report will provide some volatility, but I am not sure. Everyone knows that we are well supplied with gas coming out of the winter– it is basically the reason we are trading under $2.00. I am still working the call spreads and selling other premium to just keep interested in a very boring market.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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April Takes Over

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Did not get this out in the mail today, my apologies, but to tell the truth, wasn’t even going to post today due to the lack of action. Market seems to maintain range bound action- so lets see if it challenges the resistance area before the storage data comes out on Thursday.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

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