Energy is looking good*...
*(for companies that actually have the commodity).
Bullish Storage, Technicals Run Their Course, But Sell-Off Expected
from NGI's Daily Gas Price Index August 23, 2002
For the third Thursday in a row, the natural gas futures market moved dramatically higher following a lower-than-expected storage injection figure. At 10:30 a.m. EDT, the Energy Information Administration reported that 37 Bcf was added to underground storage facilities last week, and by 10:40 a.m. the market was 15 cents higher for the session. From that point forward, natural gas futures battled slowly higher as follow-through buying slightly outmatched profit-taking. At $3.515, September finished up 24.1 cents on the day and just a few ticks below its new, eight-week high at $3.53. ( more )
Four fours POP in.....
Futures Market Prices
NYMEX Natural Gas
August 22nd Settlement Prices
Sep 2002 3.515 +.241
Oct 3.591 +.252
Nov 3.828 +.227
Dec 4.051 +.207
Jan 2003 4.157 +.183
Feb 4.107 +.168
Mar 4.027 +.153
Apr 3.887 +.133
May 3.887 +.130
Jun 3.890 +.123
Jul 3.900 +.113
Aug 3.912 +.113
