I promised myself this would be a vacation away from the markets but I just had to sneak a peak at the January N Gas contract. As the saying goes: You can take a man out of the markets but you cannot take the markets out of……etc….etc
I see that prices have worked down into the second MOB bar. The have alsoworked themselves into an overextended condition. While I do not advocate going long because of those events, I would jump on the next buy signal. On the January contract, that signal comes on a close above 7.42. Now we all know the the January contract expires in a matter of days. That same buy signal on the February contract comes in on a close above 7.50. However, it may yet come in at a better price. Dont get nervous and jump aboard..there will be time to board the train.
Happy Holiday Everyone!!
JbG
