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Enron Mail |
Daily Market Commentary October 26, 2001
WEAK FINISH TO NOVEMBER SEEN . . . Natural gas futures worked higher in active options related trading Friday on the New York Mercantile Exchange. Prices opened higher and marched higher in mostly uninterrupted fashion and managed to close at the high end of the day's trading. Short term traders see efforts to push the November contract lower on Monday's expiration. . . At the close of trading, the November contract added $.103 to $3.041 per MMBtu. The December gained $.080 to $3.183 per MMBtu. . . "I believe that traders are looking for a weak finish to the November contract on Monday. There are indications that they want to crush the November contract," said a New York floor trader. . . "Many of the local traders are short and took short positions home with them over the weekend," he said. For the most complete information available subscribe to GasTrader at http://gastrader.net Bill Burson 120 Summit Blvd. Englewood, Colorado 80110 Tel (303) 761-7470 * Fax (303) 761-8662 (To be removed from this list send email to burson@gastrader.net)
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