Natural Gas Explosion
Natural gas exploded, exceeding record highs set just this week after a
forecasted arctic blast swooped down through the Midwest, bringing early and
well-below average cold temperatures. The contract is the leading member of the Momentum-5
List and shot up nearly 20% on the open. Overstretched, the contract has
given back gains from its new high mark throughout the session.
Going the other way in the energies, crude oil and unleaded gasoline, the two
leading contracts on the Implosion-5 List,
started higher but are extending to their fifth straight session of declines in
moves that have taken the futures to nearly four-month lows.
Greenspan’s speech implying that the economy may have slowed too much has
traders believing that the Fed may lift or lower its tightening bias and
possibly lower interest rates by January. March T-bond
(
USH1 |
Quote |
Chart |
News |
PowerRating) and 10-Year
Notes
(
TYH1 |
Quote |
Chart |
News |
PowerRating) are both trading at contract highs and on their highs of the
session, making good on their Momentum-5
List readings.
Lean hogs and orange juice are also making good on Momentum-5
List readings.