early open sunday for nymex energy

Discussion in 'Energy Futures' started by SethArb, Aug 29, 2008.

  1. nymex declares an early open ( 3 1/2 hours earlier )
    sunday for nymex energy


    -Notice to Members -

    -Notice No. 451-
    -08/29/2008 -

    -CME Group Revised Labor Day Holiday Hours for NYMEX Energy Products -

    -In response to concerns about Hurricane Gustav, CME Group, the world’s largest and most diverse derivatives exchange, today announced that it has revised its Labor Day holiday trading schedule (all times are Eastern time) for NYMEX energy products. On Sunday, August 31, all NYMEX energy products trading on the CME Globex® electronic trading platform will open for trading at 2:30 p.m. (Eastern), with a 2:00 p.m. (Eastern) pre-opening, for a September 2, 2008, trade date.-
  2. Pachoo


    Interesting. I wonder how much crude and natural gas are going to spike up tomorrow.
  3. A bunch I hope I am heavily long as are a bunch of people that I know
  4. auspiv


    what is the difference between the 2:30 open and the 2:00 pre-opening?
  5. See the action on Friday?
    Please tell me that you guys are a bunch of noobs and that will cement a collapsing open on ANY sign of weakening...

    Seriously, I hope your trade works out (but only after a collapse in the face of a major hurricane...I love it when these contradictory things happen)...
  6. auspiv


    and how often does the cme/nymex do an early open?
  7. Isn't the contradictory part be buying since obviously, it was sold down towards the last 15 minutes of market (if I recall correctly).

    Also, the price seemed like people weren't willing to take the risk that hurricane might be a non-event as far as the refineries are concerned.

    I actually bought at closing, right around 116. Just 1 contract though. I thought it's worth a gamble.
  8. Pachoo


    Yeah, natural gas and crude were selling off a bit to close Friday because Gustav seemed to be becoming less of a threat as the day wore on. That changed drastically overnight, though.

    It's hard to imagine natural gas and crude not popping quite a bit tomorrow unless the Gustav situation improves dramatically tonight. Right now, the storm is headed right for the natural gas and crude platforms, at high intensity.

    Not to mention, Hannah is still projected to hit the Gulf as well, where it could build in strength ala Gustav.
  9. the late trading action was spiking higher late friday

    not lower
  10. Crude and Natch both closed near their lows of the day.
    #10     Aug 30, 2008