this guy comes on the radio in houston each weekend and makes a next week prediction. he is pretty much spot on. I reccommend following his weekly report.
But then, i read this:
Energy Industry Icon Re Affirms Oil and Natural Gas Prices will Correct to Downside; Recommends Investors Go to the Sidelines Quickly
MIAMI, Sept. 13 /PRNewswire-USNewswire/ -- Karl W. Miller, a senior energy executive and institutional investor, today issued the following statement through his advisor VBCC, regarding the state of the U.S. Equity Markets and the Energy Industry.
Mr. Miller recently issued a sell recommendation on the US Natural Gas producers, and called for Natural gas to trade below $3 mmbtu in the U.S. last week.
Mr. Miller re affirms expectations for natural gas to correct to the $2.50 to $2.75 mmbtu price range and will continue getting cheaper, as there are no sustainable demand drivers.
Thus, the natural gas pipeline, master limited partnerships (MLP's) and natural gas producers will suffer substantially reduced earnings during the next 6-8 quarters and are substantially overvalued at the current time.
The Coming Gas Deliverability Crisis
Mr. Miller recommends that the sidelines are the best placement of capital at the current time. The real buying opportunity will come, but now is not the time.
But then i listened to financialsense.com: http://www.financialsense.com/fsn/main.html
and Bill Powers commenting on newshour, exclaims that nat gas prices are very soon to easily jump to $6 and even double digit prices next year. Then Bill Powers releases an editorial titled :http://www.financialsense.com/editorials/powers/2009/0909.html
of course Mr. Miller could be looking at short term, while Mr. Powers is looking at long term. But i am curious about these predictions. will nat gas fall and then rebound? or has it bottomed and is about to rebound?