Dollar weakening.. Oil and other Commodities continues uptick.

indeed, the US Dollar Index dropped over the cliff. Anyway, higher commidities prices means a bad element to economy recovery. Are we seeing $100 per barrel ? Gold $1100?



How the )*#)()(**(& AIG recovered??

C also recovered off low at 456

AIG sees strong support at USD35. IMHO, its quite safe to ride this pattern. USD going down is definitely a bummer for us traders. I can basically see my portfolio shrinking.

Natural gas prices likely to stay low, if weather cooperates

The good news is your wallet may not take the hit it did last year.

Maybe.

The price of heating a home with natural gas is expected to be half what you paid last year — that is, if the hurricanes don't disrupt fuel supplies to Kansas or snow and ice storms don't blanket the state later this year.

"The market price can change, it all depends on the weather," said Dave Springe, consumer counsel for the Citizens' Utility Ratepayer Board in Topeka, a state agency charged with representing consumers in utility cases. "But generally, the news is good. What we are seeing right now is that natural gas prices are at all-time lows."

Average household savings of $200 to $300 for the winter are possible.

In this economy, this is good news for consumers, said Al Walker, a spokesman for Kansas Gas Service, a utility company that provides service to 642,000 customers in 343 Kansas communities.

The utility, which adjusts its cost of gas charge monthly, now charges $5.19 for 1,000 cubic feet of gas, compared with $10.47 a year ago.

For rural homeowners, propane prices also are significantly lower than last year at this time. Last year, consumers paid well over $2 a gallon for propane.

Propane is selling between $1.20 to $1.60 per gallon, said Greg Noll, executive vice president for the Propane Marketers Association of Kansas.

"They are significantly lower," he said.

Prices began to fall last winter, but the decline came after much of the gas for the season had been purchased by the utility companies.

For this winter, utility companies have been able to purchase more gas at lower prices and have been able to put more into storage.

Even so, Walker said, it's important that consumers not let their guard down.

"One of the things we want people to continue to be is energy-conscious — by caulking and weather-stripping," Walker said. "We want them to do all the things they traditionally do when the cost was much higher."

The savings are dependent on the weather, said Curt Floerchinger, spokesman for Black Hills Energy, which purchased Aquila and has about 108,500 customers in Kansas.

Some forecasters predict El Nino may cause the Kansas winter to be warmer than normal. On the other hand, the Farmer's Almanac is predicting a colder than normal winter for the Midwest.

"I guarantee you it will be one or the other," Floerchinger said. "Either one will affect the prices. If it is warmer, the prices will keep falling."

This summer's drop mainly reflect the collapse in the wholesale gas prices. The Henry Hub price, a widely followed wholesale gas price, was $13.31 per 1,000 cubic feet in July 2008. On Friday, it closed at $1.83. Gas prices haven't been that low since November 2001.

The recession has curbed demand for natural gas, especially among industrial customers. A cooler summer this year had electric utilities using less natural gas to generate power.

Overall demand for natural gas is expected to decline by 2.6 percent, according to the Energy Information Administration, which is part of the Department of Energy.

Meanwhile, gas production stayed up. The recovery of natural gas in shale rock formations, once impossible in large quantities, has helped boost supplies.

That along with decreased demand has put gas inventories at record levels for this time of year, and they are expected to be at a record high when winter arrives.

Industry experts say they don't expect the low prices to stay low for more than this coming winter.

"We may get a break this year," Springe said, "but this isn't a long-term solution. We can expect higher utility gas rates. We can't take our eye off the ball. We still have to use less energy."

AIG sees strong support at USD35. IMHO, its quite safe to ride this pattern. USD going down is definitely a bummer for us traders. I can basically see my portfolio shrinking.

Waiting for the weekly natural gas storage report to come out tomorrow to smack some sense into UNG and perhaps lower its price as well.

---

Added on September 9, 2009, 10:31 pm

Hopefully when mother nature decides to strike, I'm already on the UNG cruiser.

I'm watching DIG/DUG today. 

ENERGY UP, BULL winning.

AIG pumped up 11% in last hour. What a show.
C holding the fort. Not giving up yet.
FAS up
URE up
BGU up
GLD up
ERX up.

Suddenly the whole world economy has recovered.

Let's see if today is a good day for US market.

ERX or DGP.

Tonight.. I'll be watching ERX/ERY. 

just make no sense looking at pre-market.

ERX
ERY

both positive?

Looks like we got a bit of sideways trading today but slightly downtrend.

Unloaded my China Play stock FUQI @ 30 yesterday. 
Waiting for it to pullback to 25 before buying again for this swing trade.

FUQI? The name in my local dialect means the girl hole. LOL

I'm on board LONG C @ 455, TP 500