Friday, October 14, 2005

Another down-up day in most markets today, with markets again recovering from early lows to finish near the highs of the day. Reports showed that, although refining capacity is rapidly returning to normal throughout the hurricane affected areas, production facilities are having a harder time of it. NG production is only at about 44% of capacity.

The early sell off in energies was driven by a combination of increased refinery capacity and perceptions of decreased demand (due to increasing conservation habits by price-wary consumers).

The daytrade TNR indicator is again pointing to neutral for tomorrow.

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