Wednesday, December 7, 2011

"Natural Gas traders looking for Old Man Winter... "

The current temperature at the NYMEX is 57.7 degrees.* The futures are down another 1.53% at $3.434.
From StockCharts, here is the Daily spot close:

$NATGAS daily

*When options on the futures were introduced in 1992 a buddy of mine eschewed all weather reports from the Midwest and Great Lakes figuring that the only temp that mattered was whether or not the traders felt cold at the exchange.

He retired rich, I don't know if there's a correlation.
Here's this morning's WSJ headline:
US GAS: Futures Down On Warm Weather Forecast For Eastern US