Sorry for the sarcasm, WIR! You're right that the protracted...

Sorry for the sarcasm, WIR!

You're right that the protracted FERC approvals process presents a vulnerability. Whether this is a cause of bearishness (real or imagined) is anyone's guess.

Finding an entry point will be difficult. LNG is presenting both signs of strength and weakness. The stock will continue to be volatile until they can de-risk Maggie (or until the project dies a sudden death, whichever comes first). While the stock might appear to some to be bearish, one or two announcements could turn that around pretty quickly (or not!).

Having said that, I think the stock has been relatively stable in the last 6 weeks (if you ignore the intra-day volatility!). We've seen solid support at around $3 and currently at around $3.50. This may change, however, if we don't see some progress on FERC soon.

Personally, I'm punting on Maggie getting approvals and financial close for phases 1 and 2 within the next 12 months. Based on this outlook, current pricing presents an attractive risk-weighted proposition in my opinion. Having said that, if I didn't have a day job I could probably make more money (at less risk) trading the volatility (presuming I had enough time or interest looking at charts all day!).