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Without liquidity there'll be huge spreads (which sucks for the commercials) and just a few players will be able to move the market all over the place, since they're not kept in check by large amounts of market players looking for precicely that. Anyway, I dont think that the position limits...

Looking at the Nymex site, it looks like there's only 145k contracts open. So does UNG control 67% (or whatever the math turns out to be) of August NG??? I see several reports citing the 100k contracts long figure. That's pretty ridiculous. They must be hating life these last couple of days...

so what is Cali's credit rating? I don't have time to look it up. I wonder what my company's would be if I strated paying my bills with i.o.u's.

maybe that's a threat that the government will assume all downside risk of lending? lol

I wonder what the terms of the repo are. Could still be a total windfall...

That must be some experts. For some reason I think anyone who is storing oil on parked supertankers, etc. has already sold the winter months (i.e. locked in the spread) at the time they bought the oil & rented the storage. I don't think anyone would put on huge positions like that and...

looks like you made a nickel just today. nice.

I know this can only be learned by actually doing it, but is there any literature or video's or anything that might serve as a good primer on why futs behave the way they do (price wise)? I'm not really talking about fundamentals as much as just watching the trading in the market and...

^what he said. read the whole thread. one of the best ones on this whole forum. N, Q, V & X refer to July, August, October and November months of natural gas futures.

Someone (non-trading person) was telling me that the gas leg didn't get marked, because it wasn't a "real" gas exposure. That's WRONG, and was what was confusing me. We really do owe the counterparty the gas at settle (or the floating $ to buy spot, since we use mostly swaps). We use Allegro...

Nobody? I've got a meeting with our risk group later this week to have them explain it to me. I'll post up what I learn.

How do you mark a heat rate to market? Let’s say I enter into a 10MW 7x24 HR swap for November at 8. So if I pull my position apart, I have a long power exposure of 30.5 days x 24 hours/day x 10MW = 7,320MWh’s, and a short gas position of 7,320 x 8 = 58,560MMbtu’s. So now how do I...

some people say that GS provides 30% of all trading volume on any given day with their liquidity program...

Maybe having friends in high places is just part of their business strategy. Not saying its right, just saying. Also I thought the TARP was forced on them (and others), so it wouldn't single out the genuinely ailing pos banks. Surprised that everyone is always angry at Goldman, and not at...

I like it. Not that it's even remotely just or "right," but it would help keep the balance a little until we can stop all of the wasteful nonsense altogether. I'd settle for being able to get a piece of the PPIP (or whatever it's called; the thing where bank A buys bank B's toxic assets and...

Cool with me. Just let me know when so I can upgrade to a $1.19M house first.

http://sendables.jibjab.com/originals/hes_barack_obama

Man, I sure get to pay for a lot of people's shit... It's fucking extortion, is what it is...

Do you expect Q do drop faster than U, or is there somthing that makes you think U might rise more than Q? Trading the divergence of approaching months seems gutsy to me... For some reason I put it in the same category as betting on the divergence of Nymex and Physi as settle date nears. I'll...

regardeing the earlier -V/+X trade, my daily CERA news email/spam just came out with further factoids not inconsistent with forced price lowering in V... NORTH AMERICAN STORAGE CAPACITY BOOM STARTS TO SLIP IHS CERA estimates total North American working storage capacity at the end of 2008...