Big gas is getting absolutely smashed today. WPL is down -3% to a post-GFC low and OSH is -17%, STO is down -10% to a new post-GFC low, ORG is down -9% to a post-GFC low and LNG is down -16% to a post-GFC low (BHP is also down -5%):
On the monthly chart we can see that STO and ORG are both back to 2003 prices, my target. I personally think that LNG is doomed:
Time to buy? Nope.
In my view, Brent oil is headed for a tremendous final washout as a part of the mining GFC. As well as that, the great LNG contract smash is ahead, as well as the mother of all asset impairment cycles.
I do not think that STO will survive it, nor will ORG in its current form.
The time to buy will be when the mining GFC is pulling down national economies, not just individual firms.
