Marshall's Law -
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Larry Marshall:
July 25, 2010 |
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AUGUST GAS CONTINUES ITS RALLY
FROM LAST WEEK’S TEST OF
TARGETED SUPPORT…DESPITE
DECIDEDLY NEGATIVE SEASONALITY,
BUT DECLINING VOLUME AND OPEN
INTEREST SUGGEST SOME BACKING
AND FILLING.
KEEP TRIGGERS IN FOR AUGUST…BUY
REMAINING NEEDS AT SETTLEMENT IF
NO TEST OF SUPPORT IS
FORTHCOMING. CONTINUE TO TARGET
$4.30 - $4.35 FOR A FRACTION OF
SEPTEMBER.
PREMIUMS FOR NOVEMBER THROUGH Q2
CONTINUE TO SHRINK…IT IS NOT
TIME TO BUY WINTER GAS YET.
THE PREPONDERANCE OF THE
TECHNICAL INDICATORS IS NEUTRAL
(1st week); THE PATH
OF LEAST RESISTANCE IS SIDEWAYS. |
