Maybe it was bad bullish luck that the morning market on Friday 13th was in a bearish mood, seeing W2-02 down in the NOK 187s again after yesterday’s NOK 190 close. A Norwegian trader found it hard going being a bull player now, but held the morning’s correction to be yet another overreaction. Too much precipitation is priced into the current market, he said, and argued that it is nonsense to price something into the market which just isn’t there.
BawlingDespite just marginal changes in weather outlooks, the Friday market was a bearish affair. Players positioning themselves before the weekend is one explanation for the downside trip today, along with speculative sales in a market with little news. An additional explanation for the drop is aggressive bear behaviour, the Norwegian trader argued:
Freitag, 13.09.2002, 12:05 Uhr
Sara Fagernes
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