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About your -- as we move on now back to a markets and now to commodities and after hovering.
Around ten year lows for weeks the oil tycoon and I guess the natural gas tycoon these days T.
He says natural gas prices may have finally bottomed out there's the price today down a little bit.
-- Chris obviously president the GR EZ energy from the nymex he's with us today.
I guess it would have been Friday entity that would have been the bottoming out day if it happened because three days in a row until today at sixteen.
Percent move to the upside so.
Boone Pickens about right on this.
Yeah I think -- is at me when you talk to most traders on the floor we look at you -- -- natural gas was 45 years ago it did over ten dollars and now it's under sue.
And most of us look at this and say this is a buy because.
What happens Connell is that.
Because it is so cheap you're gonna see a lot more people trying to figure out uses for natural gas and demand will pick up eventually -- I think.
Down the road you know two dollars and people -- to be digging themselves because they didn't buy back.
How much of this is just something anybody could understand the supply and demand equation that you talked about where.
We're gonna be debating how we get natural gas out of the ground and how much we use -- vs technical trading -- -- There's a forty day moving average on Friday that it did crossed above for the first time in five months -- guys like you jump on -- -- -- mostly technical stuff force is something else.
Absolutely hit the nail on the head it's -- -- a little bit tactical because as I said most traders look at this and say it's cheap but.
I think down the road you're gonna see that there's something behind it -- tactical move that's and that demand does pick up and you know let's not forget that we are heading -- this summer.
And traditionally you know -- the air conditioning use and everything else demand for natural gas does pick up -- this time of the year.
So it's almost like the gasoline market was is this year where you know people are anticipating.
Better demand in my not develop but that's interprets it and they're anticipating you think it well both for gasoline and for natural gas that demand will pick up as good as it should guard to be something else that.
I gotta be honestly you know they're two separate markets right now and I think that natural -- -- gasoline goes I think we're pretty much done for the summer here.
I don't see demand really coming back -- if you look at.
At you know week -- week DC 5% lower 5% lower and there's a real structural thing going on here.
You know if you look at the last rally and and gasoline.
For five years ago.
That there's a whole generation of cars now that are on the road.
That are a lot more fuel efficient and they -- and it's really been reflective in the in the price of Indian demand.
And also the fact that unemployment is still over 8% now so that's not -- -- also I think we're pretty much done as far as the outside.
For gasoline and it as long as we don't get some refinery issues for somebody breaks out in the Middle East.
But I think natural gas does have potential.
To really go to that 250 area -- test that once again are high because I think demand and that will -- -- paired up at the -- sake from my GRC thanks for coming on today appreciate it.
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