GAZB - Natural Gas: Waiting To Sell The Rally And Hoping To Buy The Dip

• This Thursday, we expect the EIA to report 3,198 bcf of working gas in storage for the week ending January 8.
• We anticipate to see a draw of 132 bcf, which is 41 bcf larger than a year ago but 29 bcf smaller vs. the five-year average.
• Over the next 30-day period, total natural gas demand is expected to average 126.6 bcf/d, which is 3.4 bcf/d higher than a year ago.
• Short-range weather models are bullish on the back-end, but there is disagreement in terms of scale (ECMWF is less bullish than the GFS).
• Our latest SD balance forecast + trading strategy (scroll down to read the last section).

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