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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Archie Meeties who wrote (48043)	12/15/2000 9:20:08 AM
From: UnBelievable	of 436258

Nymex Natural Gas Futures Seen Up-2:Severe Cold Forecast HOUSTON (Dow Jones)--The New York Mercantile Exchange natural gas futures are expected to open as much as 50 cents higher Friday on severe cold weather forecasts in the next six to 10 days, traders said. In ACCESS trading, the contract moved between $7.47-$8.00 per million British thermal units, with the last deal done at $7.90/MMBtu, up 48.7 cents from Thursday's $7.413/MMBtu settlement. In over-the-counter trading Friday, the contract was around $7.90-$7.91, mimicking the ACCESS trading on extended forecasts showing severe cold weather. Physical gas at the benchmark Henry Hub in south Louisiana traded around $7.70 for December, compared with Thursday's $7.35-$7.63 closing range. Lack of volume has made it easy for the contract to push up or down, with high, expensive margins and the high volatility chasing many traders out of the market. Resistance is seen at $7.85, and up to $8.25-$8.34, with support at $7.31-$7.33 and down to $6.50-$6.75. "It's wacky," a Midwest trader said. The extended weather models are showing severe cold coming into the Midwest, he said, "and that's why we're up 50 cents."

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