In a thin morning market, the forward curve was marginally lifted by the Friday-effect, while the rain delivering today and during the weekend took the front down, the market expecting the system price to drop in the week to come. According to a Norwegian trader the entire market is a bubble about to crack. “A V2-03 correction of some 10-15 NOK is highly realistic,” he argued.
To the downside The last week has been back and forth, up and down, driven by fear. The trader characterized the movements as “Eeny Meeny, Miney Moe,” seeing that the market is summer-thin and trading-driven. Next week, however, things should start to happen. On the downside.- It is not a question whether prices will crack, but when. We are in a low-
Freitag, 25.07.2003, 11:28 Uhr
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