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 Trader:

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/1E78A/INDISC-REBATE

<b><a href="http://store.ino.com/sale/1E78A/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=mike.grigsby@enron.com&list=evening

--
Copyright 1998-2001 INO.com. All Rights Reserved.