Daily Market Commentary October 26, 2001

WEAK FINISH TO NOVEMBER SEEN . . .

 Natural gas futures worked higher in active options related trading Friday  on the New York Mercantile Exchange. Prices opened higher and marched higher in mostly uninterrupted fashion and managed to close at the high end of the day's trading. Short term traders see efforts to push the November contract lower on Monday's expiration. . .

 At the close of trading, the November contract added $.103 to $3.041 per MMBtu. The December gained $.080 to $3.183 per MMBtu. . .

 "I believe that traders are looking for a weak finish to the November contract on Monday. There are indications that they want to crush the November contract," said a New York floor trader. . .

 "Many of the local traders are short and took short positions home with
them over the weekend," he said.








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