Price changes during the week were mixed, but in most areas, these changes were moderate. The Henry Hub price rose slightly from $3.73 per million Btu (MMBtu) on Wednesday, September 1, to $3.81 per MMBtu yesterday. The report week was shortened due to the Labor Day holiday.

At the New York Mercantile Exchange, the price of the October 2010 futures contract rose about 5 cents, from $3.762 per MMBtu on September 1 to $3.814 per MMBtu on September 8.

Working natural gas in storage as of Friday, September 3, was 3,164 Bcf, following an implied net injection of 58 Bcf, according to EIA’s Weekly Natural Gas Storage Report.

The West Texas Intermediate crude oil spot price rose 68 cents from $73.97 per barrel, or $12.75 per MMBtu, to $74.65 per barrel, or $12.87 per MMBtu.

The natural gas rotary rig count, according to data released by Baker Hughes Incorporated, rose by 4 to 977 as of September 3 (see “Other Market Trends”).

Just click here for your FREE trend analysis of natural gas ETF UNG

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EIA Natural Gas Weekly Update is news story from: News and Stories from Energy Editor

With retail traders anxious to find a bottom in natural gas prices, let’s take a look at what our trading tols are telling us about natural gas ETF UNG.

” Smart Scan Chart Analysis” is showing some near term rallying power. However, this market remains in the confines of a longer term downtrend that should be traded with extremely tight money management stops.

Based on a pre defined weighted trend formula for chart analysis, UNG scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

+10….Last Hour Close Above 5 Hour Moving Avg
+15….New 3 Day High on Friday
-20….Last Price Below 20 Day Moving Avg
-25….New 3 Week Low,Week Ending Sept 4th
-30….New 3 Month Low in September
-75….Total Score

Here is a preview of our MarketClub Trade Triangle Chart Analysis and Smart Scan technology

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What is Our Smart Scan Tool Telling Us About Natural Gas? is news story from: News and Stories from Energy Editor

Natural Gas is rallying over 5 % today and has been rallying for a few session now:

Being the most erratic commodity I know, we can go either way from here. Natural Gas is always trying to fool everybody and that I why I nicknamed it ” The Little Demon” .

Related: United States Natural Gas Fund, LP (NYSE:UNG), SandRidge Energy Inc. (NYSE:SD)

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Today`s Commodity Mover: Natural Gas (NG) is news story from: News and Stories from Energy Editor

From Peter Schaefer at ” Oil and Gas Investment” ……

First Energy analyst Martin King, whom I believe has called the natural gas market in North America better than anybody over the last two years, gave up on the likelihood of higher natural gas prices for the next 18 months in a report today, Aug 30.

“Let us reiterate: placing money in the natural gas investment space, aside from special one time circumstances, is likely to be dead on arrival” he wrote this morning. He lowered his forecast for prices in the US for 2010 by 40 cents per million BTU, and in 2011 by a full dollar per million BTU (Mmbtu).

Back in February 2009, he was one of the very few calling for a spring rally in gas prices, but there was one. Throughout July and August 2009 he counselled investors that a big seasonal run was coming in natural gas prices and gas stocks, and he was right. Today King was even more negative on Canadian natural gas prices than US prices: “Impacts for Canadian gas pricing are even more negative as we have also chosen to modestly widen the price spread between Nymex and Aeco prices over the same forecast horizon.”

NYMEX is the New York merchantile exchange, and one of the major hubs where natural gas prices are quoted. AECO is the the Alberta based Canadian standard natural gas price quote. In the US, the reason for the lower price forecast is simple: natural gas producers are still drilling, despite low prices.

In Canada, King’s reasoning for even lower prices than the US include one that I have been speaking about for months: increased pipeline capacity in the US that makes domestic gas very portable, and has opened up new markets (the Northeast US and California) for previously stranded Rocky Mountain gas in the US, the mainstream Canadian media have not reported on this, and the amount of Canadian gas that is being displaced by this, at all.

Increasing gas supply coming out of Western Canada, as the Montney, Horn River and gas saturated oil plays increase production. First Energy forecast an actual increase in Western Canadian gas production in 2011, which would be the first time since 2006. King also spoke to a new pipeline taking Canadian gas down into the US at a time when the US market is having a hard time digesting all its own new home grown supply.

In an entertaining 7 page report, he used the analogy of the supply side being a big dragon, and the only sword that could slay it is sustained low prices for 18-24 months“….we are now wielding a price sword to slay this supply dragon with the view that prices low enough for long enough, will tilt the balance of the market firmly to a structurally undersupplied situation.”

Interestingly, natural gas prices rallied today, crawling back over $3/mmcf in Canada and up 11 cents to $3.74 in the US. Also, this last week of August marked the low price point for natural gas in Canada and the US for all of 2009.

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Where Does The King of Natural Gas Price Forecasts Say Prices Are Headed is news story from: News and Stories from Energy Editor

Its a very quiet session so far on equities and oil. I will looking for opportunities to be playing both with my proprietary aggregate profile tool during the session.

Netflix (NFLX) is on the rebound today. Another opportunity to sell it short.

Natural Gas is the clear stand out today, trying a new upside breakout. Is this one for real?

I will be active on Twitter. Have a great trading day.

Related: United States Natural Gas Fund, LP (NYSE:UNG), United States Oil Fund LP (ETF) (Public, NYSE:USO), Netflix, Inc. (NASDAQ:NFLX)

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Quiet Session, Netflix (NFLX) & Natural Gas is news story from: News and Stories from Energy Editor

” Back in October the economic buzzwords had become “money printing” and “debt monetization”. Of course, at the time, the Fed was initiating their policy of QE2 and you’d have been hard pressed to find someone in this country (and around the world for that matter) who wasn’t entirely convinced that the USA was about to send the dollar into some sort of death spiral. QE2 was about to set off a round of inflation that would make Zimbabwe look like a cakewalk. And then something odd happened – the dollar rallied as QE2 set sail and hasn’t looked back since.”

in The Prag Cap

The dollar rally has been quite impressive lately. I am a bit surprised that stocks have not corrected further then they did, at least for the time being. Of course, if the dollar keeps rallying all risk assets (stocks and commodities) will find an air pocket sooner or later.

On my trading, I am mostly daytrading and short term swing trading for raids that last from half a day to 3 or 4 trading sessions. I have been using the Aggregate Profile on the S&P 500 and some other proprietary indicators to trade my own account.

I am risking a lot less then I did 1 or 2 years ago, but my Sharpe Ratio has skyrocketed and my equity curve looks much more like a straight line then a wild rollercoaster (I used to have 30-40 percent drawdowns a few times in a year, as I always going for the home run or the doubling of the account on a couple of trades). This more conservative style is working for me now and I have to say that since Enzo was born, I feel the need to play safer and not bet the ranch on single trades.

A trader is like a virus in many ways, as it is always mutating and adapting to his and also to market circumstances. If you have been trading for a few years, you know what I mean.

On other topic, I have been following Natural Gas Futures with particular interest. After a strong run, the ” Little Demon” (as me and Brian – my programmer – have nicknamed it) has found resistance and completely reversed course. Check the chart below:

I think this is the type of action that confuses everybody. After a big run up from 3850 to 4500, the Little Demon has corrected all the way down to 4200, with a big one day sell-off. As I have said before, if you like quick action, this is the futures contract for you. We have ” Fast and Furious” action every week on NG Futures and United States Natural Gas Fund, LP (NYSE:UNG).

My view is that the cream is off the market now, and a retest of the lows may be in the cards, but things change fast in the Natural Gas complex, so I will keep an eye on it.

I am also watching some stocks, and John Deere (DE) is acting like it wants to go higher. It held nicely yesterday and it trading right at the 50 day moving average. Another stock that seems to have found support is Titanium Metals (TIE). Its not in a strong technical condition, but it was a high flyer a few months back and it may be getting ready for another upmove.

Anyway, me and my subscribers played yesterday`s late rally via eMini S&P Futures (or SPDR S&P 500 ETF (NYSE:SPY)) and also via John Deere (DE) and Titanium Metals (TIE). It was a very good run for us.

I haven`t shared any music lately, so I will introduce you to Beach House. One of my favorites Alternative Rock bands:

Related: United States Natural Gas Fund, LP (NYSE:UNG), Deere & Company (NYSE:DE), Titanium Metals Corporation (NYSE:TIE)

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What A Diference A Month Makes In The US Dollar, Natural Gas Outlook & Stock Picks is news story from: News and Stories from Energy Editor

I am watching Natural Gas futures with particular interest in the last couple of days. After a successful test of the 3.800 mark it has rallied quite substantially in the last few sessions. Its trading around 4.150 as I write, up 1.47% pre-market.

But there is a strong resistance at the 4.200 level, so its 100% technical trading these days on the Natural Gas futures trading desks. I have nicknamed NG futures the ” Little Demon” because so many traders have been burned in this rather peripheral futures contracts. I guess its the fast and furious nature of it that attracts so many newbies to this one.

On other topic, I will introduce you to The Dining Rooms. They are based in Milan, Italy and its music does not fall under a specific genre, blending ambient, electronic, and jazz. Great sound.

Related ETFs: United States Natural Gas Fund, LP (NYSE:UNG)

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Natural Gas Is On The Move. is news story from: News and Stories from Energy Editor

Crude oil was slightly higher due to short covering overnight and is consolidates some of the decline off last week’s high. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If September extends the aforementioned decline, the reaction low crossing at 74.70 is the next downside target. Closes above the 10 day moving average crossing at 80.04 would confirm that a short term low has been posted.

First resistance is the 20 day moving average crossing at 79.02
Second resistance is the 10 day moving average crossing at 80.04

Crude oil’s pivot point for Friday morning is 76.41

First support is Thursday’s low crossing at 75.52
Second support is the reaction low crossing at 74.70

Here’s a Great Alternative to High Price Trading Courses

Gold was lower due to profit taking overnight as it consolidates some of Thursday’s rally. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near term.

If October extends the rally off July’s low, the reaction high crossing at 1220.80 is the next upside target. Closes below the 20 day moving average crossing at 1190.40 would temper the friendly outlook.

First resistance is the overnight high crossing at 1218.60
Second resistance is the reaction high crossing at 1220.80

Gold pivot point for Friday morning is1211.0

First support is the 10 day moving average crossing at 1199.20
Second support is the 20 day moving average crossing at 1190.40

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Natural gas was slightly higher overnight as it extends this week’s trading range. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term.

If September renews last week’s decline, May’s low crossing at 4.140 is the next downside target. Closes above the 20 day moving average crossing at 4.557 confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 4.467
Second resistance is the 20 day moving average crossing at 4.557

Natural gas pivot point for Friday morning is 4.308

First support is Wednesday’s low crossing at 4.257
Second support is May’s low crossing at 4.140

How to Take Money and Emotion Out of The Gold Market

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Crude Oil, Natural Gas and Gold Market Commentary For Friday Morning is news story from: News and Stories from Energy Editor

The current price in natural gas has a lot of traders taking positions. So is it time to buy natural gas? Let’s take a look at our Smart Scan Chart Analysis. It confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders. Based on a pre-defined weighted trend formula for chart analysis, UNG scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).

-10……Last Hour Close Below 5 hour Moving Average
-15……New 3 Day Low on Thursday
-20……Last Price Below 20 Day Moving Average
-25……New 3 Week Low, Week Ending August 14th
-30……New 3 Month Low in May
-100…..Total Score

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Is it Time to Buy Natural Gas? is news story from: News and Stories from Energy Editor

Natural gas was higher due to short covering overnight as it consolidates some of this week’s decline. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near term.

Closes below the 20 day moving average crossing at 4.576 would confirm that a short term top has been posted. If September renews the rally off July’s low, June’s high crossing at 5.282 is the next upside target.

First resistance is Monday’s high crossing at 5.007
Second resistance is June’s high crossing at 5.282

Wednesday’s pivot point for natural gas is 4.696

First support is Tuesday’s low crossing at 4.625
Second support is the 20 day moving average crossing at 4.576

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Natural Gas Daily Technical Outlook For Wednesday is news story from: News and Stories from Energy Editor