“It’s like prices are wandering aimlessly in the wilderness,”one trader remarked of Tuesday’s sharp reversal from the marketstrength that opened the week. All points were on the same downhillpage as declines ranged from about 15 cents to 90 cents but withmost of them clustered in the range of 30-50 cents.
Remarked
Articles from Remarked
Cash Swoons Under Weather, Weekend Lethargy
“The Three Stooges didn’t fall as fast or as hard,” one traderremarked, as the usual weekend demand crunch, a bearish 6- to10-day forecast and Thursday’s futures market plunge were cited asreasons for the nearly universal drops of over a nickel. New YorkCitygate prices were among the hardest hit Friday, as Monday’shighpoint of $2.75 has given way to the mid $2.40s at the week’sclose.
June 14, 1999
Light Volumes Traded in Sluggish Cash Market
Everyone seems to be “joining the slow club,” one sourceremarked Wednesday as the last day of June futures trading onlynudged June baseload and the day-trading markets slightly higherfrom the holding patterns established Tuesday. Today will be muchmore active, he said, because the Nymex closes early Friday due toMemorial Day, and time is running out to get deals done.
May 27, 1999
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