Gas Boom
A new cold front descending on the heaviest consuming residential market has
locked, loaded, and shot natural gas futures to yet another dramatic all-time
high. Temperatures in Illinois and other Midwestern states that account for over
25% of residential consumption spiked nat gas prices in overnight, Access
trading. NGF1, from the Momentum-5
List, opened as much as 14% higher and has traded down as long players took
another round of windfall profits. Spiking last week on cold weather forecasts
as well, nat gas rallied 45% last week and is currently up .866 on the session
at 9.450.
Friday’s dramatic Florida State Supreme Court
announcement after the close of equity trading hit the still-open stock index
futures. Stock index futures remain open 15 minutes after stocks. The S&Ps
tumbled as many as 35 handles and the Naz 100 futures tanked over 150.00. Both
contracts recovered in after-hours trading on the US Supreme Court action to
stay the remanded hand recount of ballots from contested counties. The index
futures appear to like the news and are trading in Slim Jim on high patterns,
indicating a ruling favorable to Bush and a late-day rally.
March cotton’s
(
CTH1 |
Quote |
Chart |
News |
PowerRating) slow drift down has created a 6/100 Low Volatility
setup. Play this one for a break either way out of its narrowing pattern.