DJ Nymex Natural Gas Futures Seen Opening 75C-80C Higher Traders ,
 ---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/07/2000 06:33 
AM ---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>                      
     12/07/2000 06:26 AM
	

To: undisclosed-recipients:;
cc:  
Subject: DJ Nymex Natural Gas Futures Seen Opening 75C-80C Higher Traders 
Calling 'Foul'


14:15 GMT 7 December 2000 *DJ Nymex Natural Gas Futures Seen Opening 75C-80C
Higher
(MORE) Dow Jones Newswires 07-12-00
1415GMT
Traders Calling 'Foul'
HOUSTON (Dow Jones)--The New York Mercantile Exchange natural gas futures
contracts are expected to open 75 cents to 80 cents higher again Thursday in
a march toward $10 per million British thermal units gas prices, traders
said.
ACCESS trading again pushed the numbers, with January gas trading in a wide
$8.61-$9.539/MMBtu range, with the last deal done at $9.95/MMBtu, $1.465
higher than Wednesday's already record $8.485/MMBtu settlement.
"This market resembles a clasic bull blow-off market," said Charlie Sanchez
of Gelber Associates in Houston.
Over-the-counter market was trading early Thursday at $9.28-$9.34/MMBtu,
with physical gas at the Henry Hub seen at $9.35-$9.43/MMBtu, traders said,
compared with Wednesday's closing range of $8.53-$9.30.
Traders see options at $9.00/MMBtu, with 8,200 positions and another 4,600
holding option calls at $10/MMBtu.
Swing swap physical trade has topped $10/MMBtu, a trader said.
"Trees don't grow to the sky," an East Coast trader said early Thursday.
"Not even manipulated ones."
"I've worked in gold markets and in potatoes," a trader said. "I know a
manipulated market when I see one."
Forecasters are predicting colder weather through December, a trader said,
but several traders have come down hard in complaints about the volatility
of a market jerked skyward in late night, low-volume ACCESS trading.
Support remains at $8.10 and $7.43, with resistance at $10 and $11.10,
traders said.
-By John Edmiston, Dow Jones Newswires, 713-547-9209;
john.edmiston@dowjones.com
(END) Dow Jones Newswires 07-12-00
1421GMT


G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

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