“Why is May masquerading as January?” A source’s somewhat tongue-in-cheek rhetorical question succinctly described why nearly all of the market continued to soften substantially Monday and why a significant rally seems unlikely until the latter half of January — if then.
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July Futures Hone in on $2.40
“The bear market is over, the bull market has begun.” That’s howone industry broker succinctly summarised the recent developmentsin the natural gas futures market yesterday. The July contractadded to its latest fortunes by climbing another 7.8 cents tosettle Monday at $2.362. In so doing, July is now “well above anypossible downtrend line you can realistically draw,” a source toldGPI.
June 23, 1998
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