Hearty

No Hibernation Yet for Nymex Bears

Nymex bears got their Thanksgiving feast a few days earlyyesterday when they were greeted with a hearty helping ofprice-negative fundamental and technical news. And even before theopening bell sounded that sentiment was evident in the price levelas over the counter deals traded at a dime below Friday’s close.After opening at $2.34, the December contract tumbled lower to newlife-of-contract-lows before settling at $2.197, down a whopping23.7 cents or 8% for the day. Heavy estimated volume of 120,326served to punctuate the price move.

November 23, 1999