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F R I D A Y E V E N I N G E X T R E M E M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ ) Friday: The CRB Index is trending higher 0.82 points to 185.00. The US Dollar Index trended higher 0.52 points to 114.86. The Dow Industrials edged higher by 40.89 points, at 9204.11, while the S&P 500 trended higher 4.87 points, last seen at 1073.48. The Nasdaq Composite climbed 18.59 points to 1671.31. _____________________________________________________________________ *TWO FREE VIDEOS ON OPTIONS TRADING! Learn How To Optimize Your Stock Portfolio With Options http://www.ino.com/specials/oic-video/video.html _____________________________________________________________________ WHAT YOU MUST KNOW TO TRADE OPTIONS ON FUTURES http://store.ino.com/sale/1A433/TWOV-Visually _____________________________________________________________________ Dear Andrew: Introducing the best guide to mastering the essentials of option trading we've ever seen. 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Like the caddy who borrowed a small grubstake and made over $100,000 per month for 70 consecutive months! Or the former Bear's linebacker who's made $16,634,699 in just three years! These are all actual results achieved by options traders . . . starting with the very same secrets you'll have after reading Paul Forchione's exciting manual, TRADING OPTIONS VISUALLY. FREE ONLINE 11 PAGE BROCHURE AT: http://store.ino.com/sale/1A433/TWOV-Visually <a href="http://store.ino.com/sale/1A433/TWOV-Visually"<Click for Safety First Strategies!</a< Order Toll Free 800-538-7424 - 410-867-7424 All claims on third-party products are made by the publisher and not by INO.com. All Products Guaranteed. _____________________________________________________________________ E X T R E M E M A R K E T C O M M E N T A R Y _____________________________________________________________________ LIVESTOCK: December live cattle closed up $0.28 at $67.25 today. Prices scored a quiet "inside day" on the daily bar chart today, as traders squared positions ahead of this afternoon's USDA monthly cattle-on-feed report. That report, released after the close, showed placements at 79% in September, and that's a bullish figure. December lean hogs closed off $0.42 today at $50.05. A weaker cash hog market today and talk of weaker cash prices early next week pressured the futures today. The late-week "pause" could be setting up the next leg down in the market. GRAINS: December corn futures closed 1/4 cent higher at $2.05 1/2 today. Prices dropped to a fresh 3.5-month low today as the market continues to feel pressure from harvest and uninspired demand. My bias is that the door is still opened to a decline to the June low of around $2.03, or below. November soybeans closed 6 1/4 cents lower at $4.24 3/4 today. Prices closed at the weekly low close today after very solid weekly export sales figures for soybeans, meal and oil could not rally the market Thursday. That was an ominous sign for the bulls for at least the near term. December Chicago SRW wheat closed up 4 cents at $2.87 today. Bulls had an excellent week. Prices pushed to another fresh seven-week high today. The recent rally in Dec. wheat confirms a double-bottom reversal pattern on the daily bar chart. SOFTS: March N.Y. sugar closed 17 points higher at 6.73 cents today. Prices closed near the session high and at the weekly high close today--and hit a fresh three-week high today. That's positive for bulls heading into next week. December N.Y. coffee closed 175 points lower at 43.85 cents today. The bears set a trap for the premature bulls this week, as prices sold right back off after the pop north on Thursday. Still, this week's activity in coffee is a bit encouraging to the bulls, as the increase in volatility at these low price levels favors the bullish camp. December N.Y. cocoa closed $32 lower today, at $1,026. Prices gapped lower today and closed near the session low. It was a volatile week this week, and bears won the battle--even though prices scored a bullish key reversal up this week. December cotton closed 63 points lower at 30.55 cents today. Prices fell to a fresh contract low of 30.51 cents today. For a longer-term perspective, nearby New York cotton futures sunk to a low of 29.50 cents in 1986. November orange juice on Thursday afternoon closed at 86.95. That's up 110 points from the Wednesday evening close. Prices this week saw some corrective consolidation after the recent big gains. This "pause" is not at all bearish and bulls have the edge. METALS: December COMEX gold futures closed up $0.90 today at $280.70 an ounce. Significant technical damage was done this week in gold. The daily chart favors the bears heading into next week. December silver futures closed $0.01 higher at $4.273 an ounce today. Prices hit a fresh five-week low Thursday. Bears have the big edge. Silver has suffered technical damage recently. December N.Y. copper closed 85 points lower at 62.35 cents. Prices today dropped to another fresh contract low of 62.25 cents. Next support is seen at 62.00 cents. Next resistance is seen at 64 cents. Worries about demand in the face of the potential for consumer "retrenchment" have pressured the market. ENERGIES: December crude closed up $0.71 at $22.66 today. Prices showed a corrective bounce in a bear market today. Prices dropped to a four-week low just Thursday. A big bear flag still may be forming on the daily chart, but if there is more upside action next week, that flag will not play out and will be negated. December heating oil closed up 178 points, at .6339 today. Prices scored a corrective bounce in a bear market today. Prices Thursday matched the September low. A big bear flag may still be forming on the daily bar chart, but more upside action next week will negate that formation. December unleaded gasoline closed 248 points higher at .5985 today. Prices scored a corrective bounce in a bear market today. Prices scored a fresh yearly low just Thursday. A bearish pennant pattern on the daily bar chart still could be forming, but would be negated next week if there's more upside price action. December natural gas closed $0.19 higher at $2.99 today. Prices today pushed to a six-week high and closed at the weekly high close. This bodes well for price action heading into next week. The nat gas market had been acting well, given the recent downturn in liquid energies. STOCKS, FINANCIALS, CURRENCIES: The December Euro currency closed 48 points lower today at .8975. Prices scored a fresh six-week low today and closed at the weekly low close. That's bearish heading into trading early next week. The December Japanese yen closed off 5 points at .8280 today. Prices pushed to a fresh two-month low just Tuesday. Bears have control of the yen. A steep four-week- old downtrend line is in place on the daily bar chart. The December Swiss franc closed 27 points lower at .6091 today. Bears won the battle this week as prices closed at the weekly low close. While a steep four-week-old downtrend line is in place on the daily bar chart, a longer-term 3.5-month-old uptrend line on the daily bar chart remains intact--but just barely. The December Canadian dollar closed 10 points higher at .6338 today. Prices scored a quiet "inside day" today, but significant technical damage occurred in this currency this week, as prices dropped sharply and are now back down close to the April and September lows. The December British pound closed 120 points lower at 1.4304. Prices fell sharply today and closed at the weekly low close, as well as set a fresh five-week low. This is bearish heading into trading Monday. The September U.S. dollar index closed 44 points higher at 115.18 today. Prices pushed to a fresh five-week high today and the bulls won the battle this week. It appears a head-and-shoulders bottom reversal pattern has formed on the daily bar chart. December U.S. T-bonds closed 16/32 lower at 106 10/32. Prices today scored a big "outside day" down and the bears get to go home for the weekend with some momentum. While bulls gained ground on the week, they could not push prices above very strong resistance located just above the 107 even. December S&P 500 futures closed off 0.60 at 1072.50. Bears won the battle this week with a bearish key reversal down on Wednesday. The growing anthrax scare spooked traders this week. The news reports with the poor company earnings and all the company layoffs will negatively impact trading psychology next week. Daily Extreme Commentary is brought to you by GLOBALcharts, INO.com's end-of-day charting software for Futures, Futures Options and Optionable Stocks. http://www.globalcharts.com Search the INO Store - http://store.ino.com/ _____________________________________________________________________ I N O N E W S _____________________________________________________________________ Pacific Exchange To Trade Options on Accenture Ltd. http://news.ino.com/press/?release=27084 SEC Opens Spanish Language Investor Education Website http://news.ino.com/press/?release=27083 S&P And NYBOT Launch New Index Futures And Options Contracts http://news.ino.com/press/?release=27082 ____________________________________________________________________________ E X T R E M E F U T U R E S ____________________________________________________________________________ Updated every 10 minutes around the clock. More at http://quotes.ino.com/analysis/extremes/futures/ WINNERS NGX1 Henry Hub Natural Gas Nov 2001 2.681 0.189 +7.60 HUX1 New York Harbor Unleaded Gasoline Nov 20 0.5952 0.0307 +5.41 HOH2 Heating Oil Mar 2002 0.6259 0.0229 +3.74 SCZ1 Brent Crude Oil Dec 2001 21.26 0.75 +3.65 CLZ1 Light Sweet Crude Oil Dec 2001 22.26 0.77 +3.57 SBK2 Sugar #11 World May 2002 6.53 0.17 +2.67 GIX1 Goldman Sachs Commodity Index Nov 2001 177.50 4.10 +2.36 PNH2 Propane Mar 2002 0.3800 0.0075 +2.01 LBK2 Random Length Lumber May 2002 250.20 4.30 +1.71 XWZ1 Wheat Dec 2001 287 4 1/2 +1.59 LOSERS XOK2 Oats May 2002 161 1/4 -9 1/2 -5.81 HGV2 Copper Oct 2002 0.6495 -0.0360 -5.47 KCZ1 Coffee 'C' Dec 2001 43.85 -1.65 -3.62 DBH2 Butter Mar 2002 137.025 -5.000 -3.52 CCZ1 Cocoa Dec 2001 1026 -31 -2.93 RAZ1 South African Rand Dec 2001 0.107050 -0.002700 -2.51 SBF3 Sugar #11 World Jan 2003 6.55 -0.15 -2.34 CTZ1 Cotton Dec 2001 30.55 -0.63 -2.02 PAZ1 Palladium Dec 2001 321.00 -6.60 -2.01 OZ1 Oats Dec 2001 180 1/4 -3 1/2 -1.90 ____________________________________________________________________________ E X T R E M E S T O C K S ____________________________________________________________________________ Updated every 10 minutes around the clock. More at http://quotes.ino.com/analysis/extremes/stocks/ WINNERS TASRW TASER INTERNATIONAL WTS 5/06 5.2500 1.2000 +31.58 QLTI QLT INC 23.7100 5.3200 +28.94 RIMG RIMAGE CORP 7.7000 1.6900 +27.93 EMLX EMULEX CORP 24.6500 4.6700 +23.29 SFA SCIENTIFIC-ATLANTA 21.00 3.87 +22.50 NHHC NATL HOME HEALTH CARE 14.7718 2.6300 +21.40 ZRAN ZORAN CORP 24.8500 4.3300 +21.10 INKT INKTOMI CORP 5.3000 0.8900 +20.23 BPRX BRADLEY PHARMACEUTICALS INC 9.9500 1.6000 +19.02 TASR TASER INTERNATIONAL 12.3000 1.8600 +17.90 LOSERS PVN PROVIDIAN FINANCIAL 5.15 -7.25 -58.47 MDCC MOLECULAR DEVICES 16.1400 -4.2900 -21.07 NBTY NBTY INC 9.8900 -2.4300 -19.74 TWP TREX COMPANY INC 15.95 -3.86 -19.25 DECT DECTRON INTL 6.0000 -1.4200 -19.06 TTI TETRA TECHNOLOGIES 15.43 -2.65 -14.67 TBC TASTY BAKING 15.74 -2.65 -14.48 ARTI ARTISAN COMPONENTS 7.8700 -1.2100 -14.15 LNET LODGENET ENTERTAINMENT 14.1700 -2.0700 -12.91 ULCM ULTICOM INC 8.3100 -1.2100 -12.72 *FREE Booklet on Managed Futures Are you taking a beating in Stocks the year? http://www.ino.com/specials/northpoint/booklet.html _____________________________________________________________________ T H A N K Y O U _____________________________________________________________________ Thank you for subscribing to the Extreme Markets Daily Digest from INO.com ( http://www.ino.com/ ). 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