Nymex burst out of the gates this morning debuting for initial trade at 120 bucks a share. After some volatility where it reached up to 150 and fell back down to around 128, it seems to be consolidating around 138-139 now.
I'm not sure anyone expected this high of price for its debut or even in its near term future. It's just a roll with the punches type thing. Anyway I'm long some shares, closely monitoring them of course as this thing has been volitile.
On a side note, look at the other public exchanges. The ICE is up 7.17 as of now, a 7 percent gain (volume is heavy as well). The NYX is up a buck. Looks like these guys are bucking the downward bias of today's market.
CM
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