One of this week’s issues has been whether V2-03 would break through the 220-level, and this morning the answer was given as the contract came crashing down and fell to 116.50 NOK/MWh. Weather forecasts are soaking wet and the spot is expected to break down, so a couple of players we spoke with this morning, pleased as they were, believed in more bearish days ahead.
A Norwegian trader, who happily told us that “with this trend everyone should have sold more than 20 NOK ago,” was not in doubt that there’s more to come. - The trend is down, the spot is going to break down seeing that night prices are collapsing in both Norway and Sweden, and this morning I think the last bulls must have been taken out. An attempt to buy the market up
Donnerstag, 5.06.2003, 11:54 Uhr
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