Natural gas (UNG +15%) futures soared to their largest one-day percentage gain in nearly three...


Natural gas (UNG +15%) futures soared to their largest one-day percentage gain in nearly three years after data showed a smaller than expected build in inventories. Cabot Oil & Gas (COG +8.6%) was the S&P 500's no. 2 gainer, as Morningstar says COG, with 90%-plus of its production in dry gas, "benefits or hurts the most with changes in natural gas prices." Also: WPX +4.5%, SWN +4.3%.

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Comments (6)
  • chaodonghe
    , contributor
    Comments (100) | Send Message
     
    It is short cover. Short sellers are always nervous when the price is near the bottom.
    14 Jun 2012, 05:39 PM Reply Like
  • AxiosCap
    , contributor
    Comments (312) | Send Message
     
    It was still a build and temperatures are moderate all over the country. Not good for prices.
    14 Jun 2012, 05:52 PM Reply Like
  • Chris Bersaw
    , contributor
    Comments (749) | Send Message
     
    Short covering but also new buying too, although I was looking for a rally didn't expect 15.7% in one day.
    14 Jun 2012, 05:55 PM Reply Like
  • Loon-a-tick
    , contributor
    Comments (1928) | Send Message
     
    Sarcastically...'Only ten more days of these returns and I'll break even!"
    14 Jun 2012, 08:56 PM Reply Like
  • Chris Bersaw
    , contributor
    Comments (749) | Send Message
     
    Hopefully it will have some back and fill so I can load up then wait for another 15% day but I won't hold my breath on that.
    14 Jun 2012, 09:51 PM Reply Like
  • mktwizard
    , contributor
    Comments (3) | Send Message
     
    Why play just one side hedge your bet with nat gas by playing HNU and HND they are ETF's that trade on the Toronto Stock Exchange just playing UNG hasn't worked for a long time now
    15 Jun 2012, 08:06 AM Reply Like
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