Fueled by follow-through buying on the heels of Monday advances,the futures market ambled higher yesterday as traders weighed theimpact of bullish news expected to be released this afternoon. TheSeptember contract finished up to 2.3 cents at $2.598. Impressiveadvances were also seen in the out months with the October,November and December contracts notching similar gains.
Hype
Articles from Hype
Bullish Hype Fizzles, Leaves Market to Trend Lower
Perched at recent highs and just below contract resistance at$2.19, the May contract was poised to continue higher yesterday.And after opening at $2.17 local buying pushed prices to $2.189 inchoppy trading. But despite the bullish euphoria the market hadbefore the open, locals received little help from other marketsegments early yesterday and were forced to cover their longpositions Tuesday afternoon. The resultant sell-off left the promptmonth down 2.5 cents to $2.144.
April 21, 1999
Prices Get No Support From ‘Hurricane Hype’
Despite achieving named tropical storm status Wednesdayafternoon, Frances was unable to avert a slight softening of cashprices. Several Gulf Coast pipelines were losing supplies toshut-ins, but the volumes were on a significantly smaller scalethan those attributed to Hurricane Earl last week.
September 10, 1998
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