Two weeks ago, with the front month contract of natural gas trading at $3.34 per million British thermal units (MMBtu), I urged caution inTime To Get Cautious On Natural Gas. This followed months of me arguing that natural gas was undervalued.
In response to that article, I had some comments and several emails from readers arguing that I was dead wrong, and that it was time to get bullish, not cautious. Given the action in natural gas prices since then, I thought an update was in order.
