Technical Analyst Perspective- Believes we are in a bear market. A lot of the sectors are faultering. Small caps are weak. It will be "tough sledding". Believes that crude oil is a bit overpriced and natural gas has been improving. If you are looking for opportunities there are bargoons in the producers and income trust side of natural gas.
Then $44.26 down 1%
Was hit by some bad news, he bet on a laggard. It's still a laggard.
As a long term play still has possibilities, but it's risky right now.
Caller asked if there was a connection between natural gas and oil.
Doesn't think so. Different forces at work here.
Natural gas is totally unloved at the moment.
From chart, it had a drop hit a low, had a slight rise, then another drop to a new low. That's the clue that it's a laggard.
He would prefer to buy when it moves up.
Watch other stocks in this sector, (10 peers, and the energy sector gas trust). When they start to move this one will follow.
Long term is going higher. In a terrific sector. In a corrective period, but thinks it is a correction on the way to higher prices.
Watch the peers. If it doesn't break through the low level of around 12.5 will be ok.
Has higher lows, and higher highs. (the low dips are getting higher, and the highs are reaching higher as well). This indicates it's good, but it's near the top of it's current high which is showing signs of getting weaker.