|Day Low/High||26.67 / 28.84|
|52 Wk Low/High||12.37 / 34.61|
Last week's natural gas price plunge creates "grand" short- and mid-term opportunities.
There are lots of talks about mergers and takeovers taking place behind the scenes.
A rally to the $60 to $65 area could be seen by mid-2017.
We are looking to go long RRC on closes above $39 and then $41.
I'm adding more Southwestern Energy and looking at other 'mini-major' natural gas stocks, today.
Lots of energy names facing the potential for lower prices.
Their underlying pricing has improved dramatically in recent months.
This change is having major implications for the stock market.
But watch that rig count, it's what stands between $50 and $60.
The sum of the parts is worth more than the whole, though you can't tell it from the torturous tune the market plays.
Does the latest M&A chatter lend weight to talk of more consolidation in the oil and gas space?
I suspect we will see a $25 to $40 trading range in the months ahead as RRC builds a bigger base.
But if you're a day trader, these are exactly the sort of names you want to trade.
SWN and CNX led the S&P 500 Thursday, supported by a spike in crude oil prices, while STX coninued its decline.
Monday's selloff isn't evidence of where indices will end up.
But it all depends on whether oil and junk bonds will find a bottom.
Dan Dicker, Energy Contributor at TheStreet, talks with Jim Cramer about the life of contract lows for U.S. natural gas stocks.
While earnings will tell the true tale, an interest payment on its senior notes is due next Friday.