Is Now the Right Time for Natural Gas? [View article]
Looks like the housing bubble did anywhere from 2004-07. You know gas is cheap but this chart (like home price to household income) won't tell you anything about when it will turn. At what ratio are these two BTU equivalent, i.e. the same amount of energy? 10x? And what is the marginal cost to produce nat gas? $3? That should provide some sort of floor where production will slow.
The big decline last fall looks like forced deleveraging by hedge funds. With markets normalizing, the current low reading is probably a more traditional sign of optimism, consistent with surveys like Investor's Intelligence.
Is Now the Right Time for Natural Gas? [View article]
Missing In Action: Short Sellers [View article]