Message-ID: <475876.1075851562131.JavaMail.evans@thyme>
Date: Tue, 23 Oct 2001 16:11:08 -0700 (PDT)
From: burson@gastrader.net
To: bmckay@enron.com
Subject: GasTrader Energy Briefs
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: burson@GasTrader.net@ENRON
X-To: bmckay@enron.com
X-cc: 
X-bcc: 
X-Folder: \BMCKAY (Non-Privileged)\Deleted Items
X-Origin: MCKAY-B
X-FileName: BMCKAY (Non-Privileged).pst

Daily Market Commentary October 23, 2001

PRICES RETREAT . . .

 Natural gas futures gave back some of the recent gains in busy trading today on the New York Mercantile Exchange. Traders were pleased by supportive technical factors and a healthy cash market, and when initial apprehension that yesterday's price advance would continue proved unfounded, traders sold contracts. . .

 At settlement, the November futures slumped $.126 to $2.681 per MMBtu. The December contract outdid the November dropping $.152 to $2.935 per MMBtu . . .

 "The futures have put up some great technical numbers recently, but
this gave new life to the bears," said a New York floor trader. . .

 "Right now the locals are willing to push prices higher and commercial traders are also bullish," he said. . .

 "The producers aren't selling, they'll wait until the 3 day averaging
period and either make delivery or trade out on an EFP," he suggested.



For the most complete information available subscribe to GasTrader at http://gastrader.net

Bill Burson
120 Summit Blvd.
Englewood, Colorado 80110
Tel (303) 761-7470 * Fax (303) 761-8662
(To be removed from this list send email to burson@gastrader.net)