We just don’t know. But what I do know is that once we get below $1.50, suddenly natural gas drillers will stop drilling because they don’t get into business to lose money. So, I do think based on that and history, that this is an area that we will see a certain amount of accumulation. I don’t know if we see a run towards the $9 level like we did a couple of cycles ago, but a target of $2.50 is very realistic sometime this year.

We just don’t know when that’s going to be. Keep in mind there’s a lot of supply out there right now. So, we need something to drill down supply, be it demand or possibly some type of geopolitical situation in the Middle East. Full disclosure, this position is part of my trading account, but it’s about 2% of my total holdings. It’s not a big position at all, and therefore I never really pay attention to it as far as a profit and loss standpoint.

But every week or so, just to see if anything’s changed. Obviously not much has.

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