Aug 26th ERCOT Cash – still pricing in mid-$30 range. Not much excitement expected the next few days, but end of the week through next week warms up – although nothing scary – loads do reach 60 gigs again. Balance the load, the gen, the wind, the DAM and RT prices – simple… ERCOT Forwards – crickets… NG – double crickets… NG will get its next move from CL CL – many cross currents here – fundamentals pretty bearish from production standpoint, however from a geo-political and economic view could be getting bullish, Middle East tensions, Global Currency and inflation – CL goes higher from here… Economy – today stocks… “Early in the day, stocks got a boost after orders for durable goods dropped more than expected in July. Since hitting all-time highs this month, stocks have fallen back amid worries that the Federal Reserve is preparing to reduce its monthly bond buying as the economy shows signs of improvement.” – WSJ – Again, doesn’t make common sense, but bad news is good for QE, so it’s good. Low volume day…enuff said. NG – $3.513 Crude - $105.92 SP500 – 1656.78 US 10-Yr – 2.791 Gold – 1404.70 **near market close
Posted on: Mon, 26 Aug 2013 21:45:00 +0000