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Heat Wave To Cut Natural Gas Storage Glut

Robert Boslego - INO.com Contributor - Energies


The National Oceanic and Atmospheric Administration's (NOAA) Climate Predict Center (CPC) is forecasting a continuation of a major heat wave this week ending July 30th. Nearly every single state is predicted to experience higher than normal temperatures. In some states, such as Washington and Oregon, cooling degree days (CDDs) are forecast to be more than double their normal levels. However, in the two states that burn the most natural gas at power plants, Texas and Florida, the heightened temperatures will be more muted.

Forecast

Based on NOAA's state-by-state cooling degree day forecast, weighted by natural gas-weighted electricity production, I estimate that CDDs will be 30% higher than normal and 12% higher than in the same week last year.

Nat-Gas Use-Weighted Cooling Degree Days Graph (Forecast)

For the year-to-date, cumulative CDDs are 22% higher than normal but the same as than during the year-to-date in 2015. [Continue reading]

Here's A Good Way To Begin The Week

How did you do the second quarter? Did you make money or did you lose money? Well, I'm happy to report that the Internet Portfolio put in a very good performance in a very flat market. The portfolio showed a return of 5.67% which I think you'll … [Continue reading]

China Recap: The Good And The Bad

A little more than a week ago, China released its data for second quarter GDP growth alongside other important data sets that, entwined, give us a glimpse into the health of the world’s second largest economy and a framework for FX strategy in the … [Continue reading]

Stocks Edge Higher On Mixed Earnings

Hello MarketClub members everywhere. As we wrap up the week Stocks are heading slightly higher today and looking to close out the week on a high note. The rally has been led by the telecom sector. AT&T Inc. (NYSE:T) was up 1.5 percent after its … [Continue reading]

When Did Market Stability Become A Fed Mandate?

According to the Federal Reserve Act, in which Congress created the Federal Reserve System back in 1913, the U.S. central bank was given the following statutory objectives for conducting monetary policy: maximum employment, stable prices and moderate … [Continue reading]

McKesson Jumps 34% Off Lows - Now What?

Introduction McKesson Corporation (NYSE:MCK) fell to a 52-week low back in February and has since surged 34%, appreciating from $148 to ~$200 per share as of mid-July. On February 16th, I published an article titled “McKesson Has Hit A 52-Week … [Continue reading]

More on the 'Breadth Thrust' and Market Internals

By: Gary Tanashian of Biiwii.com NFTRH 404 deviated from the usual format of widespread, in-depth coverage of US and global markets, precious metals and commodities in order to focus on two main themes.  One was a view of building short-term … [Continue reading]

Stocks Take A Breather

Hello MarketClub members everywhere. Stocks are fluctuating near all-time highs as investors weigh the prospects for further gains after mixed corporate earnings from companies including Netflix Inc. (NASDAQ:NFLX), Johnson & Johnson (NYSE:JNJ) and … [Continue reading]

Speculators' Risk Assessments Key to Crude Price Changes

August crude futures prices edged $0.20 higher in the week ending July 12th (to correspond to the data below), closing at $46.80. However, prices are down about 7% since early June when a confluence of events caused supply disruptions in multiple … [Continue reading]

Freeport-McMoRan Could Double Amid Strong Copper

Copper advanced 15 cents or 7% higher from my previous post and it looks like we are going to see much more strength as it was just a warming-up. Chart 1. Copper-Oil Weekly: The Metal Tries To Catch Up Consolidating Crude Chart courtesy of … [Continue reading]

Trading The Gold Bull With Options

Come on in my trading office and let me walk you through our latest option setup in the gold mining ETF. We use Elliott Wave and Fibonacci analysis to pinpoint the exact support and resistance levels for this trade setup. Learn more about … [Continue reading]

Today's Big Trends and Opportunities

Hello MarketClub members everywhere. In today's video update, I'm going to look at some of the big trends I see in the markets and analyze the power and depth of each them. Let's begin with the major indices - it seems like eons ago that the … [Continue reading]

Gold/Silver Ratio: Halfway To The Target

In my February post I called for the topping of the ratio as it hit the upside of the long-term range. The idea was to short gold and buy silver simultaneously at the 79 oz level. It's gone very well, and you can see it in the following … [Continue reading]

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