Thanks Jocam, as usual you have provided an excellent coverage...

Thanks Jocam, as usual you have provided an excellent coverage of the latest issues.

I liked the part about being the same effect as if gold went from $400 to $624. That really adds some perspective as to the jump in profitability we'll have, provided Henry Hub price can hold or better these levels.

I just want to add to one of your points, about the average size of trade. On Friday I was looking at the course of trades from time to time. There was certainly off-screen buying cleaning up 50k chunks at a time, and this kind of buying happened quite a few times (may not have been the same player, I can't tell).

As an example, it's possible that 1 single buy order for 50k at market could clean up, say, 10 different small sellers, in which case it will be logged as 10 trades. To get a detailed idea of whether the buyers or sellers are big, the only way I know is to see which party meets the offer or bid, and how many trades go through at the exact same hour/minute/second.