As the stock market continued to be volatile many players perhaps were more interested in their companies share results, particularly with International Power announcing results n Tuesday and Drax annoucing results on Wednesday. Rumours of Drax shares falling further will see them being knocked out of the FTSE100 and this inevitably makes some look at whether Drax is still a good investment.

The Market continued its fall from Friday with Summer 07 returning to 22.30 a level which is perhaps not likely to be breached until we reach it. Winter 07 although traded less also fell to around the £35 mark. Most people realised that the buying spree had flsuhed out many of the shorts and that now was a time to look at the fundamentals of the market which still state that at £40/MWh for Winter 07 when the outturn for 2006 is likely to be mid £20's suggest that it is still overpriced.