Most of the speculative traders have now managed to get out of their long positions, paving the way for a stabilization of the market, a continental based trader said this morning.
“The main reason why curve prices have fallen as much as they have this week is that too many traders have been long. Suddenly everyone wanted to sell simultaneously, making the exit door narrow, and the fall heavier than what is fundamentally sound,” the trader said.Since the market peaked last week, the V2-05 contract has dropped from 296.75 NOK/MWh to a lowest trade of 264
Donnerstag, 28.04.2005, 11:40 Uhr
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