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 Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: nostarch who wrote (169694)6/14/2012 8:58:43 PM
From: Ed AjootianRead Replies (1) of 178576
 
nostarch, hold that thought for about 3 weeks! Almost exactly a month ago, we also had a bullish storage # like we did today and the near-month contract shot up to $2.61 as of the close, only to slip back to $2.35 two Thursday's later. That loud whirring sound you may be hearing is the sound of coal-fired turbines getting fired up in areas that have access to PRB Basin coal. This time we will see whether the "demand destruction" caused by the spike in natty prices can be met by an equal amount of supply reduction from the diminished natty rig count.
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