Editor’s note: Murray Dawes is the editor of Alpha Wave Trader,...

Editor’s note: Murray Dawes is the editor of Alpha Wave Trader, a short-term trading service that trades stocks and indices from the long and short side. He is filling in for Harje while he is away overseas.

Before I continue outlining the basis of my decision making in the markets, I thought I should give you some actual news worth writing about.

According to the Australian financial Review, Labor has pledged to repurpose the coalition government’s $5 Billion Northern Australia Infrastructure Facility (NAIF) for projects ‘including gas projects that would have national economic significance’.

This is potentially big news for the small ASX-listed gas companies with stranded gas in the Galilee and Bowen basins and even those with land holdings around the Beetaloo Basin in NT.

I did a video on a number of these stocks just a few weeks ago and pointed out that the Jemena Northern Gas Pipeline (NGP) from Tennant Creek to Mt Isa might be expanded to the Wallumbilla gas hub in Southern Queensland, and if that were to occur, the Galilee Basin and Bowen Basins could be opened up and connected to the southern states.

There are a number of stocks with proven sizeable reserves who would benefit immensely if that were to occur and I noticed a few of them starting to move yesterday.

Watch These 10 Aussie Mining Stocks Go NUTS in 2019 (No. Eight Is A Ripper!)

The east coast gas shortage is going to fester unless…

Blue Energy Ltd [ASX:BLU], Galilee Energy Ltd [ASX:GLL], Comet Ridge Ltd [ASX:COI] and Armour Energy Ltd [ASX:AJQ] jump out at me as the first cabs off the rank that could rally substantially if Labor were to get in and help to fund the expansion of the Jemena NGP.

The east coast gas shortage is going to fester unless some large decisions are made one way or the other to ameliorate the situation. Opening up the potentially world-class Beetaloo Basin in the Northern Territory makes sense. And there are some huge names currently preparing to continue drilling work in Beetaloo after the Northern Territory lifted the fracking ban at the end of last year.

Origin Energy Ltd [ASX:ORG], Santos Ltd [ASX:STO] and Hancock Prospecting have all got large holdings in the Beetaloo and McArthur basins. I’m sure they have the ear of the politicians and if the upcoming drilling proves up the size of the prospect, there will be a lot of pressure applied to both sides of politics to help them unlock the potential.

A few smaller companies have some huge holdings in the Beetaloo and McArthur Basin also, but not many. The two to keep an eye on in that respect are Empire Energy Group Ltd [ASX:EEG] and previously mentioned Armour Energy. Macquarie Bank owns nearly 5% of Empire Energy and a few of the board members are ex-Macquarie. Those boys know how to make money so I will be keeping a keen eye on EEG as we move forward.

Now moving on to some technical analysis chit chat.