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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "INO.com" <evening@ino.com<@ENRON X-To: Andrew Lewis <alewis@enron.com< X-cc: X-bcc: X-Folder: \ALEWIS (Non-Privileged)\Lewis, Andrew H.\Deleted Items X-Origin: Lewis-A X-FileName: ALEWIS (Non-Privileged).pst W E D N E S 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/ ) Wednesday: The CRB Index is trending higher 0.60 points to 190.12. The US Dollar Index climbed 0.45 points to 117.07. The Dow Industrials trended lower by 66.70 points, at 9834.68, while the S&P 500 declined 5.63 points, last seen at 1137.03. The Nasdaq Composite softened 5.46 points to 1875.05. _____________________________________________________________________ *TWO FREE VIDEOS ON OPTIONS TRADING! Learn How To Optimize Your Stock Portfolio With Options http://www.ino.com/specials/oic/video.html _____________________________________________________________________ A BIG THANK YOU FROM INO.com! _____________________________________________________________________ Dear Andrew: On behalf of INO.com we want to thank you for using our website. We have a lot to be thankful for this year. Last month INO.com reached an important milestone in our history. 575,000 unique individuals accessed our website for information to help them trade. To celebrate we have decided to give EVERY user a $10 INSTANT REBATE for any purchase made now through midnight Sunday, November 25th EST. We call it . . . THE INO.com $5.75 MILLION THANKSGIVING GIVEAWAY !!! So go ahead and give yourself a big pat on the back. Treat yourself! It's been a quite a year and we at INO.com have decided to look at the positive side of life and celebrate. As we pause for the holidays, please accept my gratitude for being apart of the INO.com family. The staff at INO.com and I extend our best wishes to you and your families; may we continue to grow and prosper together. Happy Thanksgiving, J. Adam Hewison, President and CEO P.S. To redeem your $10 INSTANT REBATE see below! _____________________________________________________________________ THE INO.com $5.75 MILLION THANKSGIVING GIVEAWAY !!! _____________________________________________________________________ SPECIAL $10 THANKSGIVING INSTANT REBATE! It's our way of saying thanks to you, our most valued customer! Now through Sunday midnight EST, simply add this item to your online shopping cart for an $10 INSTANT REBATE on any purchase from the INO.com Store. Limit one rebate per person. Not valid with any additional offers. CLICK HERE TO GET YOUR DISCOUNT THEN CONTINUE SHOPPING! http://store.ino.com/sale/1A433/INDISC-REBATE <b<<a href="http://store.ino.com/sale/1A433/INDISC-REBATE"<$10 INSTANT REBATE!</a<</b< 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 _____________________________________________________________________ The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes Stock indexes closed lower on Wednesday due to profit taking as they extended Tuesday's losses. The NASDAQ closed lower for the second day in a row however, a short covering bounce ahead of the close tempered some of today's losses leaving the door open for sideways trading on Friday. If this week's decline continues, trendline support crossing near 1816.25 is a possible target later this month. Closes below this fall's uptrend line would confirm that this fall's rally has come to an end. The December S&P 500 index also closed lower on Wednesday as it extended profit taking that began on Tuesday. December closed just below the 50% retracement level of this summer's decline crossing at 1137.45 today. Closes below last Friday's low at 1130.50 could lead to a test of this fall's uptrend line crossing near 1110.50 later this year. Momentum indicators are overbought warning investors that additional long-liquidation is possible into the end of November. The Dow closed lower on Wednesday due to profit taking ahead of the Thanksgiving Day holiday. Ideas that this fall's rebound might have been too much too fast is causing investors to look hard at their portfolio's as they might want to lock in profits ahead of the upcoming Christmas season. This morning's consumer confidence report showed improvement for the second month in a row, which had little effect on investors today. If today's setback continues, broken fib resistance crossing at 9706.20 is a possible target later this month. INTEREST RATES http://quotes.ino.com/exchanges/?c=interest December T-bonds renewed its decline off November's high and broke out below the 75% retracement level of the Sept./Oct. rally crossing at 104-29. Today's close into new lows for the week sets the stage for a likely test of September's low crossing at 102-17 later this month. A short covering bounce ahead of the close tempered some of today's losses leaving the door open for sideways trading on Friday. Momentum indicators remain bearish signaling that additional weakness is possible into the end of November. The CRB INDEX http://quotes.ino.com/exchanges/?c=indexes The CRB index closed higher on Wednesday as it spiked above last week's high before profit taking tempered some of today's gains. Strength in energies, grains, fiber and some foods underpinned today's rally. If this fall's rebound continues, trendline resistance crossing near 191.87 is the CRB's next target. Closes above this resistance level are needed to confirm a major bottom and trend change has taken place. ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy The energy markets closed slightly lower on Wednesday in light pre-holiday trading as they consolidated some of this week's short covering gains. Traders continue to mull over comments from OPEC and non-OPEC nations for a clue on whether or not they will reach an agreement to cut production. January crude oil closed slightly lower as it posted a quiet inside day on Wednesday to consolidate recent gains. If this week's rebound continues, fib resistance crossing at 20.02 is Jan.'s next target. Momentum indicators have turned bullish signaling that sideways to higher prices are possible into early-December. December heating oil posted an inside day with a lower close on Wednesday as it consolidated some of its recent gains. However, momentum indicators are turning bullish signaling that Monday's low marked a short-term bottom. If this week's rebound continues, fib resistance crossing at 58.36 is December's next target. December unleaded gas closed slightly lower on Wednesday in choppy trading. If this week's rebound continues, fib resistance crossing at 55.55 is December's next target. Momentum indicators have turned bullish increasing the odds that a short-term top has likely been posted. December Henry Hub natural gas closed lower on Wednesday following the release of this week's AGA inventory report. The report showed a build of 15 bcf this past week, which was termed bearish. However, short-term momentum indicators are turning bullish hinting that a double bottom has likely been posted. CURRENCIES http://quotes.ino.com/exchanges/?c=currencies The December Dollar erased Tuesday's loss and closed into new highs thereby confirming the recent breakout above trading range resistance. December is poised to test the 62% retracement level of this summer's decline crossing at 117.79 in the near future. Momentum indicators are bullish but becoming overbought but have not confirmed a top is in place. The December Swiss Franc closed lower on Wednesday due to light profit taking as it consolidated some of Tuesday's gains. However, closes above trendline resistance crossing near .6136 are needed to confirm a bottom. Momentum indicators are turning neutral to bullish hinting that sideways to higher prices are possible into early-December. The December Canadian Dollar extended Tuesday's decline and is poised to retest this month's low at .6230 in the near future. If the decline resumes, .6200 is a potential target later this year. A number of momentum indicators are turning bearish with today's decline signaling that additional weakness is possible near-term. The December Japanese Yen posted a downside reversal on Wednesday thereby ending Tuesday's short covering bounce. If the decline resumes, July's low crossing at .8060 is a potential target later this year. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals December gold closed slightly lower on Wednesday ended above August's reaction low crossing at 272.60. Closes below this key support level would open the door for a possible test of this summer's crossing at 268.40 later this year. Stochastics and the RSI are bearish signaling that additional weakness is possible into the end of November. December silver posted a new contract low on Wednesday as it broke out below key support crossing at 4.055 cents. The door is open for a test of weekly support crossing at 3.90 later this year. Momentum indicators are bearish signaling that sideways to lower prices are possible near-term. December copper posted a key reversal up on Wednesday. However, today's mid-range close leaves the door open for sideways trading when the market reopens after Thanksgiving. Closes above 69.60 or below 66.70 are needed to clear up near-term direction in the market. GRAINS http://quotes.ino.com/exchanges/?c=grains March corn closed steady on Wednesday as it consolidates below the bottom of October's gap crossing at 2.21 1/2. Closes above this resistance level are needed to extend March's rebound off this month's low and set the stage for a possible test of this summer's downtrend line crossing near 2.25. Closes above this downtrend line are needed to confirm a bottom and trend change has taken place. Momentum indicators are bullish signaling that sideways to higher prices are possible into the end of November. March wheat closed fractionally higher on Wednesday as early strength due to short covering faded ahead of the close. Today's low-range close leaves the door open for sideways to lower prices on Friday. Until export demand improves, upside potential appears limited into the end of the year. Stochastics and the RSI have turned bullish signaling that a test of October's high at 3.03 is still possible by the end of the year. SOYBEAN COMPLEX http://quotes.ino.com/exchanges/?c=grains January soybeans posted an inside day with a higher close on Wednesday due to short covering as it consolidated some of Tuesday's loss. Friday's export sales report holds the key as to how January will close out the week. Thin holiday trading volume could lead to exaggerated moves in Friday's shortened session. Closes above this week's high at 4.54 3/4 or below this fall's shallow uptrend line, which crosses near 4.42 1/2 are needed to clear up near-term direction in the market. Momentum indicators are overbought and turned bearish while weekly momentum indicators suggest that additional short covering gains are possible into the end of the year. January soybean meal closed higher on Wednesday due to short covering following Tuesday's above mid-range close. January finished the day near mid-range leaving the door open for sideways trading on Friday. Momentum indicators have turned bearish signaling that sideways to lower prices are likely into early-December. January remains locked in a sideways pattern, as closes above 162 or below 154.40 are needed to confirm a trading range breakout and point the direction of the next trending move. LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock February hogs closed lower on Wednesday following Tuesday's bearish monthly cold storage report. However, a short covering bounce ahead of the close tempered some of today's losses leaving the door open for sideways trading on Friday. Momentum indicators are turning neutral to bearish hinting that sideways to lower prices are possible into early- December. February cattle closed steady on Wednesday and remain poised to test this fall's downtrend line crossing near 70.30. Closes above this resistance level are needed to confirm a bottom and trend change has taken place. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible into early-December. FOOD & FIBER http://quotes.ino.com/exchanges/?c=food March coffee closed higher on Wednesday in choppy trading as it extended Tuesday's short covering bounce. Closes above 53.00 or below this fall's uptrend line crossing near 48.60 are needed to clear up near-term direction in the market. Short-term momentum indicators remain bearish warning bullish traders to use caution, as the market remains vulnerable to additional weakness near-term. March cocoa closed lower on Wednesday as it continues to consolidate some of this month's impressive gains. This week's setback appears to be nothing more than a retest of broken resistance crossing at 1257. Closes above 1297 would confirm this week's breakout and open the door for a possible test of the March 1999 reaction high crossing at 1341 later this year. The daily ADX is bullish signaling that sideways to higher prices are possible into the end of November. March sugar posted a key reversal up on Wednesday but fell just short of testing the 50% retracement level of the June/October decline crossing at 755. Additional strength is needed to confirm today's bullish reversal pattern. If this fall's rally continues, September's reaction high crossing at 780 is a potential target later this year. The daily ADX has entered a bullish trend mode signaling that sideways to higher prices are possible into the end of the year. March cotton closed slightly higher on Wednesday due to improving world cotton prices. March needs to close above 37.40 or below 35.00 to clear up near-term direction in the market. If this fall's short-covering rally resumes, the 50% retracement level of the July/October decline crossing at 37.88 is March's next target. Momentum indicators are bullish but overbought warning bullish traders to use caution. 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 _____________________________________________________________________ CFTC's Technology Committees Release Interim Reports http://news.ino.com/press/?release=27536 Record NYMEX Division Seat Sale http://news.ino.com/press/?release=27535 American Stock Exchange Lists Morgan Stanley BOXES http://news.ino.com/press/?release=27534 ____________________________________________________________________________ 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 PNM2 Propane Jun 2002 0.3240 0.0090 +2.86 SBH2 Sugar #11 World Mar 2002 7.52 0.19 +2.59 KCH3 Coffee 'C' Mar 2003 60.00 1.35 +2.30 BOZ1 Soybean Oil Dec 2001 16.30 0.36 +2.26 OJK2 Orange Juice Froz. Conc. #1 May 2002 97.40 1.90 +1.98 XRF2 Soybean Oil Jan 2002 16.46 0.31 +1.92 CTZ2 Cotton Dec 2002 41.75 0.75 +1.83 DAZ1 BFP Milk Dec 2001 11.81 0.21 +1.81 HOK3 Heating Oil May 2003 0.5625 0.0088 +1.55 PAZ1 Palladium Dec 2001 335.00 4.90 +1.48 LOSERS NGQ3 Henry Hub Natural Gas Aug 2003 3.361 -0.200 -5.71 DBK2 Butter May 2002 145.000 -4.525 -3.03 PBQ2 Frozen Pork Bellies Aug 2002 75.000 -1.750 -2.30 LBF2 Random Length Lumber Jan 2002 223.80 -3.80 -1.67 TUZ1 Treasury Notes 2yr Dec 2001 104 56/64 -92/64 -1.37 OZ2 Oats Dec 2002 144 -2 -1.37 CLF2 Light Sweet Crude Oil Jan 2002 18.96 -0.25 -1.31 ZTZ1 Treasury Notes 2yr Dec 2001 104 56/64 -85/64 -1.26 HUG2 New York Harbor Unleaded Gasoline Feb 20 0.5414 -0.0066 -1.21 HOZ1 Heating Oil Dec 2001 0.5342 -0.0051 -0.95 *FREE: VANTAGEPOINT MARKET FORECAST SOFTWARE How To Gain An Unfair Advantage In Commodities Trading http://www.ino.com/specials/mkttech/vantagepoint.html ____________________________________________________________________________ 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 NSYS NORTECH SYSTEMS 5.7000 1.0500 +22.11 ARQL ARQULE INC 10.1000 1.5700 +18.23 SMD SINGING MACHINE CO INC 17.01 2.56 +17.84 CWBSP COMMONWEALTH BANKSHR CAP TR I 6.0000 0.8500 +16.50 ORG ORGANOGENESIS INC 5.03 0.70 +16.28 SKS SAKS INC 9.42 1.31 +16.15 DRRX DURECT CORP 10.3000 1.4500 +15.68 ROSS ROSS SYSTEMS INC 6.0000 0.7600 +14.34 ILX ILX RESORTS 6.80 0.84 +14.00 SSPE SOFTWARE SPECTRUM 12.9990 1.5900 +13.95 LOSERS ENE ENRON CORP 5.01 -1.99 -28.47 EXG ENRON CORP 7% EXCH NTS 7/31/02 17.00 -6.49 -27.38 DOC MEDICAL ADVISORY SYSTEMS INC 6.20 -1.27 -17.23 ENE-A ENRON CAP RES LP 9% PFD A 15.05 -3.05 -16.58 EPIQ EPIQ SYSTEMS INC 31.7000 -5.9400 -15.74 ENE-C ENRON CAP LLC 8% CUM PFD MIPS 14.01 -2.41 -14.69 ENE-T ENRON CAP TR I 8.30% TOPRS 13.90 -2.38 -14.60 ENE-R ENRON CAP TR II 8.125% TOPRS 14.00 -2.35 -14.37 DLGS DIALOG SEMICONDUCTOR PLC ADS 6.0000 -0.9900 -14.14 TQNT TRIQUINT SEMICONDUCTOR 17.2200 -2.2700 -11.61 _____________________________________________________________________ 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/ ). If you want to subscribe to our other email services, or would like to modify your profile please visit http://www.ino.com/email/. To subscribe a friend, visit: http://www.ino.com/email/ To unsubscribe, visit: http://www.ino.com/email/remove/?email=alewis@enron.com&list=evening -- Copyright 1998-2001 INO.com. All Rights Reserved.
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