Markets plummet early on hit of HVT #1
On a day that for most of us was 10 years in the making, the sight of pits being down almost 9 cents early this morning was almost surreal. Over the last few months we have talked about "risk" or "violence" premiums built into the market, but today it was all about the "fear" premium that was erased overnight. However, the Market being what it is, found a way to battle back and even trade higher for much of the session. Finally finishing lower on the day with Crude falling .41 to $113.52, HEAT losing .0237 to $3.2521 and RBOB lading the charge falling .0505 to $3.3479. As many talked how the removal of Bin Laden from the scene was a major win and will have impacts in the future of the markets, others began to chat up the power vacuum that may occur inside Al-Quida. Most Political figures stressed the importance of remaining vigilant in the fight on terror. Some cities even issued new warnings. All of us can remember life and markets pre 9/11 and in this "New Normal" market, we have always said that there needs to be an event or catalyst to change sentiment and direction. This is the biggest one we could have had.
RBOB CLOSE
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CLOSE CHANGE
JUN 33479 -.0505
JUL 33062 -.0432
AUG 32679 -.0383
SEP 32340 -.0322
OCT 30792 -.0262
NOV 30426 -.0239
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HEAT CLOSE
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CLOSE CHANGE
JUN 32521 -.0237
JUL 32669 -.0246
AUG 32817 -.0257
SEP 32977 -.0259
OCT 33124 -.0259
NOV 33263 -.0262
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