ENERGY

Late add based on overnight trading: There is no question that the market has turned back up based on the charts. But if the charts were always right we'd have no markets......
Energy today: Why did the market go up even though supplies were up everywhere? Because we are trading a weather market and not a supply demand market right now. Even though the near term (two to three week) weather forecast is for much warmer weather, the past ten days have been vicious and you cannot make up for the heating oil and natural gas that was used. The trading will be day to day depending on tomorrow's forecast each day. Supply demand won't come into the equation til February or March. I have traded hundreds of weather markets, they are always volatile, and you never stay in overnight naked.