Oil: Bounce or bottom? I say “Bounce”

Does Friday mark a bottom for oil and a turn in the market? Or is it simply a bounce, triggered by short covering? I’d vote for the second alternative. In my opinion, the fundamentals haven’t turned and it still looks like we’ll have to test $40 on West Texas Intermediate—about 10% below the January lows –before we see a real bottom.

How far will the post-rally profit-taking in natural gas go?

Natural gas prices are down 15% in the last two weeks after climbing 56% from the November low. Will the expected retreat from peak prices for natural gas—a result of the intense cold that U.S. saw in January—segue into the normal seasonal trend that produces an annual bottom in natural gas prices during the shoulder season of May/June?