I know I just wrote about chatter on the possiblity of Natural Gas heading down into the two dollars. After looking at the Nat Gas markets I notice that something systemic has shifted. Henry Hub Futures are about on par with HH Spot. In fact, Spot is actually a little bit higher. Can we interpret this as a shit away from contanngo? Does it mean that taking delivery is taking precedent over storing? I think that might be a safe bet.

So maybe we will head into the two dollar world. I know that at least two people have suggested that to me since Monday. I never really had a good feeling about that. I think we would need some seriously bad economic data, but, you never know. We really are not that far away as it is. All I know is that my gut tells me that without economic meltdown, $2 gas could not be more than a temporary trading fluke.