Thursday, November 19, 2009

Market Commentary

The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

GENERAL STOCK MARKET COMMENT: The U.S. stock indexes
closed weaker today. Prices are still at or near 13-month
highs. The bulls still have the solid near-term technical
advantage as price uptrends on the daily charts are in
place. Don't be surprised to see some profit-taking
pressure in the stock indexes heading into the holidays.
Prices have rallied during the seasonally bearish months
of September and October, and could well sell off during
the seasonally bullish month of December.
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INTEREST RATES
http://quotes.ino.com/exchanges/?c=interest

December U.S. T-Bonds closed down 17/32 at 120 17/32
today. Prices closed nearer the session low today on
profit taking from recent gains. Bulls still have some
upside near-term technical momentum. The next downside
price objective for the T-Bond bears is closing prices
below solid technical support at last week's low of 117
10/32.

ENERGY MARKETS
http://quotes.ino.com/exchanges/?c=energy

ENERGIES: December crude oil closed up $0.49 at $79.63
a barrel today. Prices closed near mid-range again today.
A weaker U.S. dollar supported buying interest in crude
today. Crude oil bulls have the near-term technical
advantage in crude oil. The next downside price objective
for the crude oil bears is to produce a close below solid
technical support at last week's low of $75.57.

December heating oil closed down 83 points at $2.0502
today. Prices closed nearer the session low today. Bulls
still have the overall near-term technical advantage.
However, prices are still trending lower from the October
high.

December (RBOB) unleaded gasoline closed up 100 points at
$2.0149 today. Prices closed nearer the session low
today. Bulls still have the near-term technical
advantage. The next upside price objective for the bulls
is closing prices above solid technical resistance at the
October high of $2.1015.

December natural gas closed down 26.9 cents at $4.26
today. Prices closed near the session low and hit a fresh
contract low today. Serious near-term chart damage has
occurred recently, including more today. Bears have the
solid near-term technical advantage.

CURRENCIES

CURRENCIES: The December Euro
currency closed up 102 points at 1.4955 today. Prices
closed nearer the session high today. The bulls still
have the overall near-term technical advantage. Euro
bulls' next upside price objective is pushing and closing
prices above solid technical resistance at the October
high of 1.5062.

The December Japanese yen closed down 15 points at 1.1186
today. Prices closed nearer the session low today. Bulls
still have the overall near-term technical advantage.
Bulls' next upside price objective is closing prices
above solid resistance at the October high of 1.1368.

The December Swiss franc closed up 72 points at .9901
today. Prices closed nearer the session high. Bulls have
the overall near-term technical advantage. The next
upside price objective for the bulls is closing prices
above solid resistance at the contract high of .9971.

The December Canadian dollar closed down 33 points at
.9470 today. Prices closed nearer the session low today.
The bulls still have the slight overall near-term
technical advantage. Bulls' next upside price objective
is producing a close above solid chart resistance at last
week's high of .9599.

The December British pound closed down 52 points at
1.6741 today. Prices closed nearer the session low today.
Bulls still have the near-term technical advantage.
Prices are in a six-week-old uptrend on the daily bar
chart. The next upside price objective for the bulls is
closing prices above solid technical resistance at the
August high of 1.7028.

The December U.S. dollar index closed down 29 points at
75.17 today. Prices closed near mid-range today. Bears
still have the solid overall near-term technical
advantage, amid no early clues of a market bottom being
close at hand. Bulls' next upside price objective is to
close prices above solid technical resistance at 77.00.


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PRECIOUS METALS
http://quotes.ino.com/exchanges/?c=metals

METALS: December gold futures closed up $4.60 at
$1,144.00 today. Prices hit another fresh contract and
all-time record high today, amid a weaker U.S. dollar.
Prices closed near mid-range. Gold bulls have the solid
overall near-term technical advantage. There are no early
clues of a market top being close at hand for gold.

December silver futures closed up 12.8 cents at $18.515
an ounce today. Prices closed nearer the session low
today but did hit a fresh 16-month high today. The silver
bulls have the solid near-term technical advantage.

December N.Y. copper closed up 250 points at 313.35 cents
today. Prices closed near mid-range today and hit a fresh
14-month high. Copper bulls have the solid near-term
technical advantage. The next downside price objective
for the bears is closing prices below solid technical
support at 300.00 cents.

FOOD & FIBER
http://quotes.ino.com/exchanges/?c=food

SOFTS: March sugar closed up 11 points at 23.21 cents
today. Prices closed nearer the session low today after
hitting a fresh two-week high early on. Prices are still
trending lower from the early-September high, which is
worrisome to the bulls.

March coffee closed up 190 points at 140.75 cents today.
Prices closed near mid-range today. A weaker U.S. dollar
supported coffee today. Coffee bulls have the near-term
technical advantage. Coffee bulls' next upside price
objective is pushing and closing prices above solid
technical resistance at the October high of 147.95 cents.

March cocoa closed up $124 at $3,261 today. Prices closed
near the session high today. A weaker U.S. dollar boosted
cocoa today. Short covering and fresh speculative buying
were featured. Cocoa bulls have the overall technical
advantage and regained some upside technical momentum
today.

March cotton closed up 58 points at 72.55 cents
today. Prices closed near mid-range today. A weaker
U.S. dollar index supported cotton today. Cotton
bulls have the near-term technical advantage, but
there is strong overhead technical resistance
located at last week's high of 74.27 cents.

January orange juice closed up 55 points at $1.1295
today. Prices closed nearer the session high today after
hitting another fresh two-week low early on. Short
covering was featured. The FCOJ bulls still have the
overall near-term technical advantage.

January lumber futures closed down $9.00 at $230.50
today. Prices closed nearer the session low on profit
taking today after recent limit-up daily price moves.
Bulls still have the solid near-term technical advantage.

GRAINS
http://quotes.ino.com/exchanges/?c=grains

GRAINS: March corn futures closed down 2 3/4 cents at
$4.14 3/4 today. Prices closed nearer the session low on
profit-taking pressure from recent gains. Prices did poke
to a fresh five-month high early on today. Corn bulls
still have the overall near-term technical advantage. A
nine-week-old uptrend line is still in place on the daily
bar chart.

January soybeans closed down 1/2 cent at $10.29 a bushel
today. Prices closed nearer the session low today after
hitting a fresh three-month high early on. Mild profit-
taking pressure from recent solid gains was seen today.
Bulls still have some upside technical momentum.

March soybean meal closed down $1.30 at $296.90 today.
Prices closed nearer the session low after hitting a
fresh three-month high early on today. Bulls still have
some upside near-term technical momentum.

March bean oil closed down 6 points at 40.54 cents today.
Prices hit another fresh five-month high today and then
backed off a bit and closed nearer the session low on
profit taking. Bean oil bulls still have the solid near-
term technical advantage.

March Chicago SRW wheat closed down 8 1/2 cents at $5.88
today. Prices closed near the session low after hitting a
fresh 4.5-month high early on today. Profit taking was
featured today after recent solid gains. Bulls still have
the near-term technical advantage. Prices are in a seven-
week-old uptrend on the daily bar chart.

LIVESTOCK
http://quotes.ino.com/exchanges/?c=livestock

LIVESTOCK: December live cattle closed down $1.00 at
$83.07 today. Prices closed nearer the session low today
and are back down near the recent contract low. This
market is one of the most bearish of the commodity
complex, with no technical signs of a market bottom being
close at hand. Bears still have the solid near-term
technical advantage in cattle.

January feeder cattle closed down $1.05 at $91.72 today.
Prices closed near the session low and hit a fresh
contract low today. Feeders are the most bearish market
in the commodity complex. Bears have the solid near-term
technical advantage with no early clues of a market
bottom being close at hand.

December lean hogs closed up $0.05 at $56.45 today.
Prices closed near mid-range today and hit a fresh two-
week high. Bulls have regained fresh upside technical
momentum. The next upside price objective for the bulls
is to push and close prices above solid chart resistance
at the November high of $58.25.

February pork bellies closed up $0.05 at $88.65 today.
Prices closed nearer the session high and hit a fresh
three-week high again today. Bulls have the near-term
technical advantage. The next upside price objective for
the bulls is pushing and closing prices above solid
technical resistance at the October high of $91.70.



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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

BCX.U10 CBOT SOYBEAN CRUSH INDEX Sep 2010 76.25 3.25 +4.32
DB.K10 BUTTER May 2010 151 5 +3.42
LH.Z10 LEAN HOGS Dec 2010 66.65 0.50 +0.76
SF.Z09 SWISS FRANC Dec 2009 0.9888 0.0059 +0.60
SM.Z09 SOYBEAN MEAL Dec 2009 310.5 1.8 +0.58
EC.H10 EURO FX Mar 2010 1.4929 0.0084 +0.57
CL.Z09 CRUDE OIL Dec 2009 79.58 0.44 +0.56
RR.N10 ROUGH RICE Jul 2010 15.94 0.07 +0.44
RB.Z09 RBOB GASOLINE Dec 2009 2.0114 0.0065 +0.32
PB.Q10 FROZEN PORK BELLIES Aug 2010 85.00 0.25 +0.29

LOSERS

BCX.Q11 CBOT SOYBEAN CRUSH INDEX Aug 2011 68.75 -6.25 -9.06
NG.Z09 NATURAL GAS Dec 2009 4.254 -0.276 -6.02
LB.F10 LUMBER (RANDOM LENGTH) Jan 2010 230.5 -9.0 -3.76
YW.N11 WHEAT (MINI) Jul 2011 669.00 -12.75 -1.87
KW.N11 HARD RED WINTER WHEAT Jul 2011 661.5 -11.5 -1.73
S.X11 SOYBEANS Nov 2011 1007 -16 -1.57
W.K10 WHEAT May 2010 599.50 -9.25 -1.52
YC.Z10 CORN (MINI) Dec 2010 440.500 -6.000 -1.35
C.Z10 CORN Dec 2010 440.50 -6.00 -1.34
LC.Z09 LIVE CATTLE Dec 2009 83.075 -1.000 -1.19

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____________________________________________________________________________

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

TOMZ TOMI ENVIRONMENTAL SOL 5.8 2.8 +93.33
GGWPQ GENERAL GROWTH PROPERTIES INC 5.83 1.56 +36.53
AKT AMBAC FINANCIAL GROUP 5.875 DEBENTURES 5.5300 1.3815 +33.30
LZB LA-Z-BOY INC 9.27 2.09 +29.11
AKF AMBAC FINANCIAL GROUP 5.95 DEBENTURES 5.5800 1.2301 +28.28
CGA CHINA GREEN AGRICULTURE 16.3501 3.2301 +24.62
ABK.PR.Z AMBAC FINANCIAL GROUP 9.5% 13.200 2.235 +20.38
LDK LDK SOLAR CO ADR 8.06 1.35 +20.12
SGB SOUTHWEST GA FINANCE CORP 9.25 1.50 +19.35
NUACF NATURA COSMETICOS SA 19.8045 2.8525 +16.83

LOSERS

BOMK BANK of MCKENNEY VA 5.070 -0.880 -14.79
NANO NANOMETRICS INC 11.210 -1.870 -14.30
KSP.UN KINGSWAY LINKED RETURN 9.00 -1.46 -13.96
MYRX MYRIAD PHARMACEUTICALS 5.20 -0.78 -13.04
TBL.NT TAIGA BUILDING PRODUCTS LTD 50.0 -7.4 -12.89
SGZH SONGZAI INTL HOLDINGS 8.05 -0.95 -10.56
ADSK AUTODESK INC 24.165 -2.835 -10.50
UNTD UNITED ONLINE INC 7.54 -0.85 -10.13
VRUS PHARMASSET INC 19.92 -2.22 -10.03
EXEL EXELIXIS INC 6.919 -0.771 -10.03

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