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

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I N O   N E W S   
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Pacific Exchange To Trade Options on Accenture Ltd.
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SEC Opens Spanish Language Investor Education Website
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S&P And NYBOT Launch New Index Futures And Options Contracts
   http://news.ino.com/press/?release=27082

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E X T R E M E   F U T U R E S
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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
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E X T R E M E   S T O C K S
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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

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