Morning Thoughts – Boring Friday

Winter contracts are down 5 cents or more each this morning. I think it’s due for a slight pull back. Also it seems like I saw some noise on Twitter about weather shifting bearish. Outside of that, LNG is strong, production is weak and it’s just another boring Friday.

The macro view is still the same. Prices are getting a bit high; the market remains well undersupplied, and the storage surplus is shrinking fast. I’m sticking with UNL and SLB. I’m tempted to exit KOLD if it will reach 50% of my max gain in the next few weeks. That trade has a February expiration, so to make 50% this early would be begging to take the profit. I really think I will wind up holding for max return and maybe even a roll forward. I’m just putting it out there that I’m interested in early profits if they show up this early.

My positions as of 10/23/20

I feel like looking at this EIA data today; Price vs Storage Surplus/Deficit.

Price vs Storage Surplus/Deficit at EIA.gov

I don’t even know where I’ll land, but I’ll post about it if something stands out. Have a great weekend.

Oldinvestor

Something like this… Step 1, make that puny chart bigger

click the image to view it larger

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