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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Kayaker who wrote (115529)12/19/2008 9:36:22 PM
From: tom pope3 Recommendations  Read Replies (1) of 206131
 
Don't know about how energy stocks will fare on Monday. I said the closing JAN price was an artifact because I think it reflected a certain degree of panic by people faced with the requirement to take delivery with no access to storage. The settlement price was about 36 and change, and FEB closed at 43. If you had storage and sold your glop forward into FEB, you'd make 19% in a month. That suggests one price or the other is artificial, and I suspect it's today's spot price and that it will be higher on Monday.

I'll tell you on Tuesday if I'm wrong. Which I've never been, many, many times before. Except perhaps this time.

Interesting question, thanks.
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