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Mood

Slight Drop Again Contrary to More Bearish Mood

The cash market capped off a week of defying expectations ofsoftness with a little bit of softness, but Friday’s small dropsonce again surprised traders by failing to fall as much as expectedfor a lower-load weekend period. Sources continued to marvel at therelative firmness of prices in the absence of significant heatingload and with the abundance of storage supplies.

January 25, 1999

Futures Traders Continue To Be In a Bearish Mood

The April Nymex contract made it five consecutive down days onFriday by virtue of its 1.2 cent loss to $2.129. Several tradersagreed Friday’s price action was a continuation of the 8.7 centdecline turned in on Thursday, coupled with some liquidation aheadof the weekend.

March 9, 1998
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