The general market continued its downslide Wednesday, and traders saw very little chance of a near-term rebound, citing further screen softness, a storage injection report that significantly exceeded all prior expectations, and expectations that the out-of-season blasts of winter hitting much of the U.S. this week are about to go away.
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Bulls Unfazed as Futures Pull Back
Despite bullish over the counter dealings and a constructiveopening, the natural gas futures market shuffled lower Monday asshort-term traders sold off newly acquired long positions. TheNovember contract notched a $3.02 high shortly after the open thenproceeded lower to its $2.86 low for the session. A late rallybolstered prices near the closing bell to $2.92, a 5.5-cent loss onthe day.
October 19, 1999
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