shame on u chingichi, it's not guido's fault that NG traders did not want to drive NG up. It was a normal winter drawdown, not a low draw down.
This is just a normal pause in a bull market for NG that is just beginning.
If you want a scapegoat, blame me, I'm the bull here.
NG futures trades uptrends with a wall of worry and normal pullbacks always seem like the end of the world. NG always does the opposite of what everyone expects on a short term, but over the long term it makes more sense. The direction is set by consumption rate and once the market focuses on high consumption and gets off the high supply mind set, the price will continue the uptrend. It could be that this upcoming Thursday report will show a never before seen draw down, 1) there was huge cold airmass over NA, 2) there was extreme windchill factors, 3) there is still considerable nuclear offline, 4) there is the abundance/ low price factor where people will not turn down the thermostat and would rather have the comfort. This large draw down will change the traders focus to worry short term about summer supply.
The fundamentals show that NG will continue to be used at record consumption in North America. You have a President of the United States, that loves NG and sees that jobs in coal regions are switching to jobs in NG so the political hit is not as bad as it would be if there was not a replacement of income producing jobs for Appalachia.
It aint over until the bull falls asleep, stay thirsty my friends.