Who knows where market prices will go? Former colleagues like Matthew Hunter and Eric Plateis have schooled me well.. and have me convinced that anyone who thinks they can time commodities markets is taking too much risk. I was speaking to one former colleague about current energy markets and he said that when you see a market sell off in the midst of cold weather, of the sort we saw last week, it indicates a bearish market that may have some downward momentum. But then again, natural gas doesn't have much farther down to go, does it? And if we really are in a true recovery, we wouldn't expect much more downward momentum. In general, we see this as a favorable time to cover open positions for 2011, 2012.
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