AMU 0.00% 21.0¢ amadeus energy limited

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  1. 579 Posts.
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    Thanks for the informative post. This has got to be a good top up level for AMU. Heres more info on NG futures:

    http://www.futuresource.com/news/story.jsp?i=i4653465080996298816

    Ending storage as of March 31 was 1,695 bcf, easily exceeding the previous
    record high of 1,500 bcf in March 2002 and 63% above the five year average
    level of 1,041 bcf. The lowest-ever storage level of 696 bcf at the end of the
    heating season came just a year after the previous record high.

    The record level of gas in storage is weighing on the gas futures market,
    having sent prices more than 50% lower from their mid-December peak, but Rather
    sees signs that the market's overwhelming bearishness could backfire.

    "With everybody and their dog short, the surprise is to the upside, not the
    downside," he said. "I'm still generally thinking we'll have a contrarian,
    bullish bias to the market. If you hold near $6.90-$7.10, that supports the
    contrarian view that you'll have a test of the $8.20 to $8.65 level."
 
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