Coyote

Bearish One-Two Sends December Futures 26-Cents

Natural gas futures took a Wylie Coyote-like free-fall yesterdayafter a bearish conspiracy of weather and technicals gave traderslittle choice but to liquidate long positions. After notching a newtwo-month high Wednesday afternoon, the December contract openedlower at $3.18 and never looked back, plummeting 25.8 cents tofinish at $2.965. January fared little better, tumbling 23.6 centsto $2.994.

October 29, 1999