Natural Gas Falls 10% For The Week
Futures traders be sure to come back this
weekend to read the Big Saturday Interview as I had the pleasure of speaking
with Floyd Upperman. Floyd is at the forefront of futures trading after
developing his own method of interpreting COT data. Floyd not only shared his
knowledge but also talked about which futures markets are currently offering the
best trading opportunities and what he’s looking for in 2006.
In today’s economic news, Durable Goods Orders rose more than
expected
(report),
while New Home Sales fell more than expected
(report).
Treasuries rallied following the report on
housing sending the yield on 2-yr T-notes above the yield on 5-yr T-notes and
almost even with 10yr T-notes.
The US Dollar also moved higher, buoyed by the
reports on housing and durable goods which suggest further rate increases to
come in 2006.
For a review of the Dollar in 2005 and a look ahead to 2006, read
Jes Black’s column from
earlier this week.
Energy prices were mixed with Crude Oil and
Unleaded Gasoline closing higher, while Heating Oil and Natural Gas closed
lower. Natural Gas experienced a second day of heavy selling but was able to
close off session lows. For the week, Natural Gas lost more than 10%.
Durable Goods Orders Up 4.4% For Nov., Ex.-Trans
Down 0.6% (report).
New Home Sales Down 11.3% In Nov. To Rate Of
1.245 Mln. Units (report).
U. Of Mich. Consumer Sentiment Index At 91.5 For
Dec.
Ashton Dorkins
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