Wednesday, December 23, 2009

E X T R E M E M A R K E T C O M M E N T A R Y

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March U.S. T-Bonds closed down 6/32 at 115 29/32 today.
Prices closed near the session low again today and hit
another fresh four-month low. The market was pressured
today on higher U.S. stock indexes, more risk appetite
among investors and notions that U.S. interest rates
could rise sooner rather than later. Bears have regained
downside technical momentum. Prices are in a steep three-
week-old downtrend on the daily bar chart.

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

ENERGIES: February crude oil closed up $2.10 at $76.50
a barrel today. Prices closed nearer the session high and
hit a fresh two-week high today. Crude was supported by a
weaker U.S. dollar and firmer U.S. stock index prices
today. Bulls today gained fresh upside near-term
technical momentum.

February heating oil closed up 570 points at $2.0270
today. Prices closed nearer the session high today and
scored a fresh two-week high. Bulls gained some fresh
upside near-term technical momentum today. The bulls'
next upside price objective is closing prices above solid
technical resistance at $2.1000.

February (RBOB) unleaded gasoline closed up 644 points at
$1.9770 today. Prices closed nearer the session high
today and hit a fresh two-week high. Bulls gained some
fresh upside technical momentum today. The next upside
price objective for the bulls is closing prices above
solid technical resistance at $2.0500.

February natural gas closed up 11.7 cents at $5.889
today. Prices closed near the session high and closed at
a fresh two-month high close today. Bulls have gained
upside near-term technical momentum recently. Prices are
in a steep three-week-old uptrend on the daily bar chart.

CURRENCIES

CURRENCIES: The March Euro currency
closed up 77 points at 1.4329 today. Prices closed nearer
the session high today and were supported on short
covering. Still, serious near-term chart damage has
occurred recently. Prices are still in a steep three-
week-old downtrend on the daily bar chart.

The March Japanese yen closed up 15 points at 1.0915
today. Prices closed nearer the session low again today.
Prices Tuesday hit a fresh seven-week low. Prices are
still in a four-week-old downtrend on the daily bar
chart. Bulls' next upside price objective is closing
prices above solid resistance at 1.1300.

The March Swiss franc closed up 81 points at .9627 today.
Prices closed nearer the session high today on short
covering. Bears still have the near-term technical
advantage. Prices are still in a steep three-week-old
downtrend on the daily bar chart.

The March Canadian dollar closed up 66 points at .9539
today. Prices closed nearer the session high today and
hit a fresh three-week high. Bulls have regained the
near-term technical advantage. Bulls' next upside price
objective is producing a close above solid chart
resistance at the December high of .9608.

The March British pound closed down 8 points at 1.5952
today. Prices closed near mid-range in quiet trading
today. Bears have the overall near-term technical
advantage have gained fresh downside momentum recently.
Prices are in a five-week-old downtrend on the daily bar
chart.

The March U.S. dollar index closed down 36 points at
78.25 today. Prices closed nearer the session low today
on profit taking from recent gains. The bulls still have
some upside near-term technical momentum to suggest that
a near-term low is in place and that prices can trend
sideways to higher in the near term.

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

METALS: February gold futures closed up $4.40 at
$1,091.10 today. Prices closed near mid-range today and
were supported by short covering and a weaker U.S.
dollar. However, near-term chart damage has been
inflicted in gold to suggest that a near-term market top
is in place.

March silver futures closed up 12.5 cents at $17.155 an
ounce today. Prices closed nearer the session high and
were supported on short covering. The key "outside
markets" were in a bullish posture for silver today, as
the U.S. dollar was weaker, crude oil prices were higher
and the U.S. stock indexes were firmer. Prices are still
in a three-week-old downtrend on the daily bar chart.

March N.Y. copper closed up 600 points at 319.80 cents
today. Prices closed nearer the session high today. The
key "outside markets" were in a bullish posture for
copper today, as the U.S. dollar was weaker, crude oil
prices were higher and the U.S. stock indexes were
firmer. Copper bulls still have the overall near-term
technical advantage and regained some upside momentum
today.

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

SOFTS: March sugar closed up 2 points at 26.52 cents
today. Prices closed nearer the session high today. The
key "outside markets" were in a bullish posture for sugar
today, as the U.S. dollar was weaker, crude oil prices
were higher and the U.S. stock indexes were firmer. The
sugar bulls have some upside near-term technical
momentum.

March coffee closed up 80 points at 143.25 cents today.
Prices closed nearer the session high today and were
supported on short covering and some fresh speculative
buying. The key "outside markets" were in a bullish
posture for coffee today, as the U.S. dollar was weaker,
crude oil prices were higher and the U.S. stock indexes
were firmer. Coffee bulls have faded and need to show
more power soon. Coffee bulls do still have the overall
near-term technical advantage.

March cocoa closed down $1 at $3,264 today. Prices closed
near mid-range today in quiet trading. A bearish pennant
pattern has formed on the daily bar chart. The recent
"collapse in volatility" also makes me suspect a bigger
price move is on the horizon. Cocoa bulls still have the
overall technical advantage, but have faded and need to
show more power soon. Prices are still in a seven-month-
old uptrend on the daily bar chart.

March cotton closed up 10 points at 73.90 cents
today in quiet trading. Prices closed nearer the
session high after hitting a fresh two-week low
early on. No serious chart damage has occurred in
cocoa but the bulls are now fading a bit and need
to show fresh power soon. Cotton bulls still have
the overall near-term technical advantage.

January orange juice closed down 60 points at $1.3225
today. Prices closed near the session high today. FCOJ
bulls still have the near-term technical advantage. The
next downside technical objective for the FCOJ bears is
to produce a close below solid technical support at
$1.2500.

January lumber futures closed up $0.20 at $209.90 today.
Prices closed nearer the session low again today. Lumber
bears have the near-term technical advantage. The next
upside technical objective for the lumber bulls is
pushing and closing prices above solid technical
resistance at $225.00.

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

GRAINS: March corn futures closed up 5 1/4 cents at
$4.04 today. Prices closed near the session high today.
The key "outside markets" were in a bullish posture for
corn today, as the U.S. dollar was weaker, crude oil
prices were higher and the U.S. stock indexes were
firmer. Recent solid export demand and 5% of the U.S.
corn crop still standing in the field are bullish
fundamentals for corn.

March soybeans closed up 8 1/2 cents at $10.07 a bushel
today. Prices closed nearer the session high today on
short covering. The key "outside markets" were in a
bullish posture for soybeans today, as the U.S. dollar
was weaker, crude oil prices were higher and the U.S.
stock indexes were firmer. Some near-term chart damage
has occurred in beans recently. Bears still have the
overall near-term technical advantage.

March soybean meal closed up $3.30 at $297.40 today.
Prices closed nearer the session high today and were
supported on short covering. Bears still have the slight
near-term technical advantage.

March bean oil closed up 10 points at 38.55 cents today.
Prices closed near mid-range in quiet trading today.
Short covering was featured. The key "outside markets"
were in a bullish posture for bean oil today, as the U.S.
dollar was weaker, crude oil prices were higher and the
U.S. stock indexes were firmer. Bean oil bears still have
the near-term technical advantage.

March Chicago SRW wheat closed up 6 1/2 cents at $5.29
1/2 today. Prices closed near the session high today.
Short covering in a bear market was featured again today.
The key "outside markets" were in a bullish posture for
wheat today, as the U.S. dollar was weaker, crude oil
prices were higher and the U.S. stock indexes were
firmer. Wheat bears still have the overall near-term
technical advantage.

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

LIVESTOCK: February live cattle closed up $0.67 at
$85.35 today. Prices closed nearer the session high
today. Short covering was featured. The key "outside
markets" were in a bullish posture for cattle today, as
the U.S. dollar was weaker, crude oil prices were higher
and the U.S. stock indexes were firmer.

January feeder cattle closed up $1.02 at $95.45 today.
Prices closed near the session high and hit a fresh six-
week high today. The bulls have upside technical momentum
and gained some more today as prices are in a steep two-
week-old uptrend on the daily bar chart.

February lean hogs closed up $0.95 at $65.70 today.
Prices gapped higher on the daily bar chart closed near
the session high on more short covering and fresh
speculative buying. The key "outside markets" were in a
bullish posture for hogs today, as the U.S. dollar was
weaker, crude oil prices were higher and the U.S. stock
indexes were firmer. Hog bulls have the overall near-term
technical advantage.

February pork bellies closed down $0.20 at $87.90 today.
Prices closed near the session low today in quiet
trading. Bulls have the slight 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.



____________________________________________________________________________

E X T R E M E F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at
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WINNERS

BCX.F11 CBOT SOYBEAN CRUSH INDEX Jan 2011 73.50 5.75 +7.74
RB.G10 RBOB GASOLINE Feb 2010 1.9868 0.0742 +3.88
HO.F10 HEATING OIL Jan 2010 2.0118 0.0632 +3.24
RR.F10 ROUGH RICE Jan 2010 14.795 0.390 +2.71
CL.M10 CRUDE OIL Jun 2010 78.97 2.03 +2.64
GI.F10 S&P GSCI COMMODITY INDEX Jan 2010 513.0 13.0 +2.60
NGX.H10 5 YEAR INT RATE SWAP (IMPLIED YLD) Mar 2010 3.05989 0.06614 +2.21
PL.F10 PLATINUM Jan 2010 1426.8 29.9 +2.14
HG.F10 COPPER Jan 2010 3.1870 0.0655 +2.10
NG.H10 NATURAL GAS Mar 2010 5.852 0.118 +2.06

LOSERS

KB.Y$$ CHEESE-BLOCKS (SPOT) Cash 1590.0 -110.0 -6.47
BCX.V10 CBOT SOYBEAN CRUSH INDEX Oct 2010 71.50 -2.75 -3.58
DA.G10 MILK CLASS III Feb 2010 14.18 -0.30 -2.07
LB.K10 LUMBER (RANDOM LENGTH) May 2010 254.0 -1.7 -0.67
MP.M10 MEXICAN PESO Jun 2010 0.075775 -0.000250 -0.33
LH.J11 LEAN HOGS Apr 2011 71.5 -0.2 -0.28
PB.G10 FROZEN PORK BELLIES Feb 2010 87.90 -0.20 -0.23
O.H10 OATS Mar 2010 258.50 -0.50 -0.19
US.H10 T-BONDS Mar 2010 115.93750 -0.15625 -0.13
FV.H10 5 YEAR T-NOTES Mar 2010 115.039063 -0.148438 -0.13

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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

LSGOF LAND SECURITIES GROUP 10.1500 6.5500 +61.79
GAI GLOBAL-TECH ADV INNOVATIONS 11.40 2.40 +26.67
GSFL GENESIS FLUID SOLUTIONS 5.75 1.00 +21.05
GELYY GEELY AUTO HOLDINGS ADR 11.5 1.8 +18.56
CAGC CHINA AGRITECH INC 28.08 4.24 +17.79
NG NOVAGOLD RESOURCES INC 6.52 0.81 +14.19
VHI VALHI INC 14.8300 1.7800 +13.64
BHS BROOKFIELD HOMES CORP 6.85 0.82 +13.60
CAAS CHINA AUTOMOTIVE SYSTEMS 18.62 2.20 +13.40
NG NOVAGOLD RESOURCES INC 6.82 0.80 +13.29

LOSERS

SSRAP SATURNS SEARS ROEBCK 10.0 -2.4 -19.35
RIVE RIVERVIEW FINANCIAL CORP 10.25 -1.88 -15.50
RDN RADIAN GROUP 7.10 -1.02 -12.56
SCMRD SYCAMORE NETWORKS 20.32 -2.66 -11.58
CTAS CINTAS CORP 26.310 -3.370 -11.35
APFC AMERICAN PACIFIC CORP 7.70 -0.88 -10.26
AHD ATLAS PIPELINE HOLDINGS 6.3091 -0.6909 -9.87
AMLN AMYLIN PHARMACEUTICALS 13.99 -1.46 -9.45
MTG MGIC INVESTMENTS CORP 5.76 -0.60 -9.43
GGFHF GAGFAH SA 8.8500 -0.8527 -8.79

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