You’ll note the one-day percentage gains in today’s NYMEX prices. Day-to-day volatility doesn’t change the fact that prices continue to fall and flirted with the sub-$5.00 range this week.
What this means to you. The natural gas market leaves us with a little gift to mark this holiday season. It appears that Cost Containment Intl. will continue to be finding deals and savings through the winter and into 2009.
And for this week, the best of the Season to everyone, and here’s hoping for a 2009 full of good cheer and good energy savings.
A short bit of trivia for a short week
We talk about “bull” and “bear” markets. Ever wonder why we call them that? The truth is, the terms have been around for so long (earliest citation of the term “bull market” dates back to 1891) that no one is sure of the origin. But here are some theories:
- In 18th century London, sellers of bearskins, also know as bearskin “jobbers,” would sell bearskins before the bears had actually been caught. They were, in effect, the original short sellers, selling bearskins they did not own in anticipation of falling prices, which would enable them to buy them later for an additional profit. This accounts for the “bear market,” at least.
- This one’s a bit of a stretch: the ancient term “bulla” which means bill, or contract. In a rising market, holders of “bullas” for commodities benefit. However in a falling market, the “bearers” of these commodity to be delivered benefit.
- Bulls and bears were commonly used in a sport (if you can call it that) called bull baiting and bear baiting. So they were considered natural antagonists.
- Again, a bit of a stretch here, but it relates to the way each animal attacks: a bull attacks upwards with its horns, while a bear swipes downwards with its paws.
- It relates to the perception that bears move about sluggishly, while bulls charge quickly. Never mind that a bear, at full speed, can outrun a horse!
- The word “bull” plays off the market’s returns being “full” whereas “bear” alludes to the market’s returns being “bare”.
If you know of a better explanation, give us a call at 800-436-3470.