Some significant price movement early on this evening. Seems to be par for the course lately. As I have said recently, this market takes some patience- chasing the price will only result in losing all of your money.
1940 ET
Sept contract has been bought up to 706. Only one or two sizeable trades though.
** my take ** - The markets are clearly jittery. Perhaps the sell-off late today was partly due to the possibility of a strengthening dollar if the latest debt-reduction plan gets passed. That probably took some of the edge off the weather trade online first thing this morning. Not sure how much more play the weather has though, as forecasts next week seem to improve. Next week is the end of the month too- potential for profit taking from the hedges. A lot to think about.
2035 ET
Sept price has settled in at around 705. Looking like it will hang there until overnight.
0740 ET
Not much going on overnight. Some mild selling form EU has brought the Sept contract down to 702.
OUT
