Neck

The cash market on Wednesday was jerked around like a bull whip by its out-of-control master, the gas futures market on the New York Mercantile Exchange. As futures popped nearly 40-cents higher at the open and soared to the incredible height of $7.55 Wednesday morning before collapsing shortly thereafter, the cash market was dragged behind, albeit at a significant distance. The run-up produced massive trading ranges as sellers scrambled to unload what they could before the show was over.