Futures Quiet Ahead of Weekend

The futures market sauntered into the weekend Friday in a verysimilar fashion to the way it traded throughout the week-in aboring, hum-drum manner. The March contract was limited to a paltry2.5-cent trading range, slipping 0.1 cents lower to settle at$1.745. Estimated volume was evidence of the quiet trading as only42,085 contracts changed hands.

February 22, 1999

Futures Drop in Christmas Eve ‘Surprise’

The futures market gave the impression it would finish the weekon a boring note, and for nearly the entire abbreviated tradingsession last Thursday it did just that-trading within a tighttwo-cent range. But that was before bears gave the market a littlepre-Christmas surprise by selling the market into the final bell.The prompt January contract finished 2.5 cents lower at $1.881.Estimated volume was a paltry 24,112 contracts.

December 28, 1998

June Futures Hold to Their Mid-Range

Amid a day one broker called “perhaps the most boring of any Iremember,” the spot June NYMEX contract nudged 0.4 cents lower tosettle at $2.200. The broker actually said the day was interestingin that a large amount of anticipated activity never materialized.”Every floor trader we spoke to expected when June broke below$2.18, tons of sell stops would kick in between $2.15-17. But therewasn’t diddly squat for stops. In fact, just the opposite happenedin that there was pretty good scaled-down buying once June hit$2.15,” he said.

May 15, 1998