So, based on the NYMEX figures for this week, what do you expect to see next week?
There are two ways to read this week’s overall rise in NYMEX prices. Either:
Fundamentals are kicking in, and the gradual winter price rise is taking effect. This means you would expect the rise to continue next week.
Market forces are in effect, and this is typical end of the month behavior. Traders who sold short (when you sell short, you effectively sell a block of a commodity, and agree to buy it back within a certain timeframe. You’re waiting for the price to fall, so you can buy it back…cover your short…at a lower price and make a profit. Wait too long, like right up to the end of the month, and you have to buy back at the best price you can get) are doing some last-minute shopping, and that’s driving up the price. This means you would expect the overall downward trend to resume next week.
What this means to you. Following the natural gas market can seem like a game sometimes, and in 2009 too many people treated the markets like a game. But behind this game is a very serious matter: the cost for you electricity, your heat, your hot water, and your power. Cost Containment Intl. knows that there’s more to a successful energy strategy than following the market, and we’re dead serious about saving you money in 2009.
A few words from Robert Burns to end the year
Should auld acquaintance be forgot,
And never brought to mind ?
Should auld acquaintance be forgot,
And days o’ lang syne ?
For auld lang syne, my jo,
For auld lang syne,
We’ll tak a cup o’ kindness yet,
For auld lang syne.
And there’s a hand, my trusty fiere !
And gie’s a hand o’ thine !
And we’ll tak a right gude-willy waught,
For auld lang syne.
For auld lang syne, my jo,
For auld lang syne,
We’ll tak a cup o’ kindness yet,
For auld lang syne.