[full TA updates are still Friday]
Payrolls Friday: A Reuters poll of economists gave a median estimate of 5,000 jobs added to U.S. Why is this important? A good job's number will spike up the $USD which will likely lead to a sell-off in oil, gold and maybe natural gas.
S&P Update: Wall Street loves to run-up the markets in 1 day so you can't get in. It's too late to go long. The risk/reward is not that favourable anymore. Wait until 1085 to pile in long [support]. I would look to pile in shorts at 1125.
$NATGAS: Could these two snowstorms in the northern U.S.A [Virgina, Maryland and Delaware] increase heating and ignite a rally in natural gas? I would love to place some bets on the U [HNU.TO] if $NATGAS trades down to about $5.25ish.. Guys, do not buy the D just yet.. wait for a better entry point. Remember entry is everything.
News:
Winter Storm Could Be Another Monster
Could this really be happening? Two major snowstorms within seven days in the mid-Atlantic region. Across the northern tier of the country, big winter storms can happen in rapid succession, but that rarely occurs in the mid-Atlantic region.It's going to this time, though. Later this week, there will be another big snowstorm in northern Virginia, Maryland and Delaware, and this time the heavy snow could migrate up to central Pennsylvania and central New Jersey. So, what is the biggest amount of snow accumulations in this region? How about 8 inches for starters, and there could be much more if everything were to line up perfectly.This is going to be a widespread snowstorm with its effects being felt in the Midwest and across much of the Great Plains. A band from central Indiana, back across Illinois and northern Missouri could get more than 6 inches of snow from the storm.In regards to there being two storms on the map shown here, this will be a case in which one hands off to the other. The storm tracking in Tennessee will be the main low which will hand off its energy to secondary storm along the East Coast. Simply a classic situation for snow in all ways.
Story by AccuWeather.com, Senior Meteorologist John Kocet.
Companies building Alaska natural gas pipeline prepare for open season
document.
By The Canadian Press
CALGARY — TransCanada Corp. (TSX:TRP) and ExxonMobil Corp. (NYSE:XOM) are about to take the next major step in the development of their Alaska pipeline, which is now estimated to cost as much as US$41 billion.
An updated estimate puts the cost of that option between $32 billion and $41 billion. It would deliver about 4.5 billion cubic feet of natural gas per day.
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12:51 PM Feb 1st Update: I'll be making updates whenever I'm on the computer. So check every couple of days... Full updates are still on Friday.. these are just intraday updates.
The channel held (chart available on weekend post).. it should be safe to go long BUT exit on any move lower.
These MA for $NATGAS will provide resistance.. If you see NG not rallying above these, you should bail.
50 MA 5.35
20 MA 5.58
If we break those two resistance areas, $5.80-$6.00 will be swift.
If your long keep STOPS!!
Here's the trade for the rest of the week. DO NOT TRADE NG if it is not near these numbers..
LONG AT 5.20 ish(w/HNU.TO)
SHORT AT 6.00 ish (w/HND.TO)
