As far as making a big bet on the weather, even if you're bearish it's still too early to go short in a big way.
More Quotes from Mike Wittner:
It appears increasingly likely that we will need colder-than-normal temperatures in order for heating oil and gas oil to perform this winter and lead crude up,Mike Wittner
In the near term, the markets will continue to strengthen and weaken with the weather, and crude and product prices will be range-bound.
Mike Wittner
The market has three drivers right now distillate stocks (including heating oil), demand growth and the weather, ... Stocks are moderately bearish, demand is neutral and the calendar itself is moderately bullish, assuming a normal winter.
Mike Wittner
I think the markets will begin pricing in the downstream investments during 2007.
Mike Wittner
We're trading on the weather. It's cold in New York, so the price is going up.
Mike Wittner
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