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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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The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes
The March NASDAQ 100 closed lower on Friday as it consolidated some of the short covering rally of the past two trading
days. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned bullish
signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 1862.10
are needed to confirm that a short-term low has been posted. If March renews this month's decline, weekly support crossing at
1638.00 is the next downside target.
The March S&P 500 index closed lower on Friday due to profit taking as it consolidated some of the past two-days gains.
Today's low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bullish signaling
that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 1359.37 are needed
to confirm that a low has been posted. If March renews this month's decline, monthly support crossing at 1229.20 is the next
downside target.
The Dow closed sharply lower on Friday as it consolidated some of the markets
gains of the past two trading sessions. The low-
range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signaling that
sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 12,666 are needed to
confirm that a short-term low has been posted. If the Dow extends the decline off December's high, monthly support crossing at
11,524 is the next downside target.
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INTEREST RATES http://quotes.ino.com/exchanges/?c=interest
March T-bonds closed up 29/32's at 119-28
March T-bonds closed higher on Friday due to weakness in the equity market. Today's rally led to a close above the 10-day
moving average crossing at 119-19 as it consolidated some of Thursday's decline. The high-range close sets the stage for a
steady to higher opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 118-15 would confirm that a short-term top has been posted.
Closes above Thursday's gap crossing at 121-14 would temper the near-term bearish outlook in the market. First resistance is
Thursday's gap crossing at 121-14. Second resistance is Wednesday's high crossing at 122-26. First support is today's low
crossing at 118-07. Second support is the reaction low crossing at 117-12.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
March crude oil closed higher on Friday and above the 10-day moving average crossing at .9037 signaling that a short-term low
has been posted. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI have turned
bullish signaling that a double bottom with December's low appears to have been posted. Closes above the 20-day moving
average crossing at 93.34 are needed to confirm that a short-term low has been posted. If March renews this month's decline,
December's low crossing at 85.37 is the next downside target. First resistance is today's high crossing at 91.38. Second
resistance is the 20-day moving average crossing at 93.34. First support is Tuesday's low crossing at 85.42. Second support is
December's low crossing at 85.37.
February heating oil closed higher on Friday and above the 10-day moving
average crossing at 250.83 signaling that a short-
term low has been posted. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are
oversold but are turning bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average
crossing at 257.91 are needed to confirm that a short-term low has been posted. If February renews this month's decline, the
38% retracement level of the 2007-08 rally crossing at 234.77 is the next downside target. First resistance is today's high
crossing at 253.08. Second resistance is the 20-day moving average crossing at 257.95. First support is Tuesday's low crossing
at 240.75. Second support is the 38% retracement level crossing at 234.77.
February unleaded gas closed higher on Friday and above the 10-day moving
average crossing at 229.84 signaling that a short-
term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the
RSI are oversold and are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-
day moving average crossing at 238.96 are needed to confirm that a short-term low has been posted. If February extends this
month's decline, December's low crossing at 221.45 is the next downside target. First resistance is today's high crossing at
233.70. Second resistance is the 20-day moving average crossing at 238.96. First support is Tuesday's low crossing at 221.83.
Second support is December's low crossing at 221.45.
February Henry natural gas closed higher on Friday and above the 20-day moving average crossing at 7.884. The high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that
sideways to lower prices are possible near-term. If February extends this week's decline, the reaction low crossing at 7.500 is
the next downside target. Closes above the 10-day moving average crossing at 8.004 are needed to confirm that a short-term low
has been posted. First resistance is today's high crossing at 7.992 then the 10-day moving average crossing at 8.004. First
support is Wednesday's low crossing at 7.570. Second support is the reaction low crossing at 7.500.
CURRENCIES
The March Dollar closed higher on Wednesday as it consolidated some of Thursday's decline but remains below the 10-day
moving average crossing at 76.27. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics
and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline,
last week's low crossing at 75.27 is the next downside target. Closes above Tuesday's high crossing at 77.50 are needed to
renew the rally off last week's low. First resistance is Tuesday's high crossing at 77.50 then December's high crossing at 77.88.
First support is today's low crossing at 75.90. Second support is last week's low crossing at 75.27.
The March Euro closed lower on Friday and below the 10-day moving average crossing at 146.973 as it consolidated some of
Thursday's rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have
turned bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, last week's
high crossing at 149.160 is the next upside target. Closes below Tuesday's low crossing at 144.880 would renew the decline off
last week's high. First resistance is Thursday's high crossing at 147.610. Second resistance is last week's high crossing at
149.160. First support is Thursday's gap crossing at 145.780 then Tuesday's low crossing at 144.880.
The March British Pound gapped up and closed above the reaction high crossing
at 1.9750 on Friday confirming that a short-
term low has been posted. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are
bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, the reaction high
crossing at 2.0055 is the next upside target. First resistance is today's high crossing at 1.9795 then the reaction high crossing at
2.0055. First support is today's gap crossing at 1.9700 then the 20-day moving average crossing at 1.9650.
The March Swiss Franc gapped down and closed below the 10-day moving average
crossing at .9144 on Friday leaving a two-
day island top on the daily chart. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI
are diverging and are turning neutral hinting that a short-term top might be in or is near. If March extends this month's rally,
monthly resistance crossing at .9300 is the next upside target. Closes below the 20-day moving average crossing at .9059 are
needed to confirm that a short-term top has been posted. First resistance is last Tuesday's high crossing at .9235. Second
resistance is monthly resistance crossing at .9300. First support is today's low crossing at .9113 then the 20-day moving
average crossing at .9059.
The March Canadian Dollar closed higher on Friday and above the 20-day moving average crossing at .9919 confirming that a
short-term low has been posted. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI
are bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, gap resistance
crossing at 99.82 is the next upside target. Closes below Thursday's gap crossing at .9770 would confirm that a short-term top
has been posted. First resistance is today's high crossing at 99.65. Second resistance is gap resistance crossing at 99.82. First
support is Thursday's gap crossing at 97.70 then Tuesday's low crossing at 96.40.
The March Japanese Yen closed lower on Friday as it extended Thursday's decline. The high-range close sets the stage for a
steady to higher opening on Monday. Stochastics and the RSI have turned bearish signaling that a short-term top might be in or
is near. Closes below the 20-day moving average crossing at .9254 are needed to confirm that a short-term top has been posted.
If March extends the rally off December's low, weekly resistance crossing at .9629 is the next upside target. First resistance is
Thursday's gap crossing at .9480. Second resistance is Thursday's high crossing at .9565. First support is today's low crossing
at .9307. Second support is the 20-day moving average crossing at .9254.
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PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
February gold closed higher on Friday as it spiked above the previous reaction high crossing at 916.10. Profit taking tempered
early gains and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI have turned bullish
signaling that additional gains are possible near-term. If February extends this winter's rally, monthly resistance crossing at
930.00 is the next upside target. Closes below Tuesday's low crossing at 849.50 would confirm that a short-term top has been
posted. First resistance is today's high crossing at 924.30 then monthly resistance crossing at 930.00. First support is the 10-
day moving average crossing at 894.00 then the 20-day moving average crossing
at 878.20.
March silver closed high on Friday's as it extends this week's rally. Profit
taking tempered early session gains and the mid-
range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that
sideways to higher prices are possible near-term. If March renews the rally off December's low, weekly resistance crossing at
17.000 is the next upside target. Closes below the 20-day moving average crossing at 15.810 are needed to confirm that a
double top with November's high has been posted. First resistance is today's high crossing at 16.680 then this month's high
crossing at 16.715. First support is the 10-day moving average crossing at 16.211 then the 20-day moving average crossing at
15.810.
March copper closed higher on Friday as it consolidated some of this week's decline but remains below the 20-day moving
average crossing at 318.77. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the
RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's
decline, December's low crossing at 285.30 is the next downside target. First resistance is today's high crossing at 324.55.
Second resistance is Tuesday's high crossing at 327.50. First support is Tuesday's low crossing at 301.20. Second support is
December's low crossing at 285.30.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
March coffee closed lower on Friday as it extended Wednesday's decline. The low-range close sets the stage for a steady to
lower opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-
term. If March extends this week's decline, the reaction low crossing at 12.830
is the next downside target. Closes above the 10-
day moving average crossing at 13.427 would temper the near-term bearish outlook in the market.
March cocoa closed higher on Friday as it extended this week's rally. The high-range close sets the stage for a steady to higher
opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term.
If March renews this winter's rally, weekly resistance crossing at 22.79 is the next upside target. Closes below the 20-day
moving average crossing at 21.38 would confirm that a short-term top has been posted and would then open the door for a
possible test of the late-December low crossing at 20.22 later this month.
March sugar closed higher on Friday and above the 10-day moving average crossing at 11.68 tempering the near-term bearish
outlook in the market. The high-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI
remain bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average
would open the door for a possible test of the early-January low crossing at 10.62 later this winter.
March cotton closed lower on Friday as it consolidates below the 20-day moving average crossing at 69.20. The low-range
close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to
lower prices are possible near-term. If March extends Wednesday's decline, the reaction low crossing at 66.66 is the next
downside target. Closes above Tuesday's gap crossing at 70.38 would signal that a short-term low has been posted.
GRAINS http://quotes.ino.com/exchanges/?c=grains
This week's export sales report.
Corn sales were 62.8 million bushels.
Wheat sales were 15.5 million bushels.
Soybean sales were 24.4 million bushels.
March corn closed up 9-cents at 4.98 1/4.
March corn gapped up and closed above the 10-day moving average crossing at 4.96 1/4 on Friday signaling that a short-term
low was likely posted on Wednesday. Profit taking tempered early session gains and the mid-range close sets the stage for a
steady opening on Monday. If March extends today's rally, a test of this month's high crossing at 5.19 is the next upside target.
Closes below Wednesday's low crossing at 4.69 would confirm that a short-term top has been posted. If March renews this
winter's rally, weekly resistance crossing at 5.28 is the next upside target. Stochastics and the RSI remain neutral to bearish
signaling that sideways to lower prices are still possible near-term. If March renews the decline off last week's high, the 38%
retracement level of the October-January rally crossing at 4.55 is the next downside target. First resistance is today's high
crossing at 5.04 1/2 then this month's high crossing at 5.19. First support begins with today's gap crossing at 4.89 1/4 then the
20-day moving average crossing at 4.80 3/4.
March wheat closed up 24-cents at 9.33.
March wheat closed sharply higher on Friday due to better-than-expected export sales this week. The high-range close sets the
stage for a steady to higher opening on Monday. However, stochastics and the RSI remain bearish signaling that sideways to
lower prices are possible near-term. Closes below the reaction low crossing at 8.79 would renew the decline off December's
high and could lead to a test of the 62% retracement level of the November-December rally crossing at 8.57 1/4. Today's close
above Thursday's high crossing at 9.29 1/2 tempers the near-term bearish outlook in the market.
March Kansas City Wheat closed up a 15-cents at 9.70.
March Kansas City Wheat closed higher on Friday as it consolidates some of this week's decline. The mid-range close sets the
stage for a steady opening on Monday. Stochastics and the RSI remain bearish signaling that a short-term top might be in or is
near. Closes below the 20-day moving average crossing at 9.42 3/4 would confirm that a double top with December's high has
been posted. Closes above December's high crossing at 10.19 would open the door into uncharted territory marking upside
targets hard to project.
March Minneapolis wheat closed up 30-cents at 12.67.
March Minneapolis wheat gapped up and closed limit up on Friday as it extends this winter's rally. The limit up close sets the
stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. With March trading into uncharted territory, upside targets are hard to
project. Closes below the 10-day moving average crossing at 11.67 would signal that a short-term top has been posted.
SOYBEAN COMPLEX
March soybeans closed up 12 1/2-cents at 12.43.
March soybeans closed higher on Friday as it extended Thursday's short covering rally. Profit taking ahead of the close
tempered early gains and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain
neutral to bearish signaling that sideways to lower prices are still possible near-term. If March extends this week's decline, the
38% retracement level of the August-January rally crossing at 11.46 1/2 is the next downside target. Closes above the 10-day
moving average crossing at 12.61 would temper the near-term bearish outlook in the market.
March soybean meal closed up $2.80 at $335.00.
March soybean meal closed higher on Friday as it consolidated some of this week's decline. The mid-range close set the stage
for a steady opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are
possible near-term. If March extends this week's decline, the 38% retracement level crossing at 300.90 is the next downside
target. Closes above the 20-day moving average crossing at 343.70 would temper the near-term bearish outlook in the market.
March soybean oil closed up 33 pts. at 52.01.
March soybean oil closed higher on Friday as it extended Thursday's rally above the 20-day moving average crossing at 51.44.
Profit taking tempered early gains and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the
RSI remain bearish signaling that sideways to lower prices are possible near-term. If March renews this week's decline, the
38% retracement level of the August-January rally crossing at 47.09 is the next downside target. Closes above the 10-day
moving average crossing at 52.29 would confirm that a short-term low has been posted.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $0.20 at $56.20.
February hogs closed higher on Friday and above the 20-day moving average crossing at 55.91 signaling that a short-term low
has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain
bullish signaling that a short-term low might be in or is near. Closes above the reaction high crossing at 56.85 are needed to
confirm that a short-term low has been posted. If February renews this winter's decline, monthly support crossing at 53.55 is
the next downside target. First resistance is today's high crossing at 56.80 then the reaction high crossing at 56.85. First support
is the 20-day moving average crossing at 55.91 then the 10-day moving average crossing at 55.01.
February bellies closed up $1.25 at $85.87.
February bellies closed higher on Friday and tested the upper boundary of this month's trading range. The mid-range close sets
the stage for a steady opening on Monday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher
prices are possible near-term. Closes above the reaction high crossing at 86.65 or below the reaction low crossing at 82.60 are
needed to clear up near-term direction in the market. If February renews the decline off November's high, the 87% retracement
level of the October-November rally crossing at 80.98 is the next downside target.
February cattle closed up $0.27 at 91.40.
February cattle closed higher on Friday and above the 75% retracement level of
the 2006-07-rally crossing at 91.22. The high-
range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are bullish hinting that a short-
term low might be in or is near. Closes above the 20-day moving average crossing at 92.90 are needed to confirm that a low has
been posted. If February renews this month's decline, last November's low crossing at 87.60 is the next downside target.
March feeder cattle closed down $0.60 at $102.10.
March Feeder cattle closed lower on Friday but remains above the 10-day moving average crossing at 101.98. The mid-range
close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher
prices are possible near-term. Closes above the 20-day moving average crossing at 103.42 are needed to confirm that a bottom
has been posted. If March renews the decline off September's high, weekly support crossing at 98.98 is the next downside
target.
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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.N08 CBOT SOYBEAN CRUSH INDEX Jul 2008 73.00 4.25 +6.39
PL.J08 PLATINUM Apr 2008 1680.1 67.1 +4.37
SB.H08 SUGAR #11 (WORLD) Mar 2008 11.94 0.47 +4.34
KW.Z08 HARD RED WINTER WHEAT Dec 2008 956.5 28.5 +3.46
MW.N08 HARD RED SPRING WHEAT Jul 2008 1126 30 +3.19
NGX.H08 5 YEAR INT RATE SWAP (IMPLIED YLD) Mar 2008 3.56808 0.13209 +3.08
W.H09 WHEAT Mar 2009 910.0 24.0 +3.02
YW.Z08 WHEAT (MINI) Dec 2008 899.5 23.5 +2.97
PA.H08 PALLADIUM Mar 2008 386.00 9.95 +2.65
NG.G08 NATURAL GAS Feb 2008 7.983 0.181 +2.41
LOSERS
BCX.H08 CBOT SOYBEAN CRUSH INDEX Mar 2008 66.00 -2.75 -3.79
NX.Y$$ NONFAT DRY MILK (SPOT) Cash 14.0 -0.6 -3.49
NM.Y$$ NONFAT DRY MILK-A (SPOT) Cash 14.0 -0.6 -3.47
ND.M08 NASDAQ 100 INDEX Jun 2008 1804.5 -44.5 -2.10
SP.Z08 S&P 500 INDEX Dec 2008 1342.1 -19.1 -1.28
GG.H08 RUSSELL 1000 GROWTH INDEX Mar 2008 550.00 -7.50 -1.22
VV.H08 RUSSELL 1000 VALUE INDEX Mar 2008 728.25 -9.75 -1.21
R.H08 RUSSELL 1000 INDEX Mar 2008 725.70 -9.10 -1.13
LB.F09 LUMBER (RANDOM LENGTH) Jan 2009 274.1 -3.3 -1.12
SF.Y$$ SWISS FRANC Cash 0.9113 -0.0091 -1.03
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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
INSW INSWEB CORP 9.5500 2.1599 +24.03
SWC STILLWATER MINING CO 10.41 2.05 +21.22
CHNG CHINA NATURAL GAS INC 7.10 1.37 +19.86
CLN CELSION CORP 5.48 0.53 +17.85
ABFS ARKANSAS BEST CORP 27.42 3.91 +17.82
CRXX COMBINATORX INC 5.12 0.73 +16.44
HRT ARRHYTHMIA RESRCH TECH 7.38 1.07 +15.55
MXFD MAXLIFE FUND CORP 13.75 1.35 +15.52
PKI PERKINELMER INC 26.68 3.98 +15.30
SCSC SCANSOURCE INC 30.55 4.85 +14.99
LOSERS
SOY SUNOPTA INC 6.00 -3.64 -27.47
STKL SUNOPTA INC 6.05 -3.51 -26.29
TPX TEMPUR-PEDIC INTL INC 18.97 -5.94 -22.87
VNBC VINEYARD NATIONAL BANC 7.70 -2.26 -22.38
SYNA SYNAPTICS INC 24.18 -7.25 -17.61
AXR AMREP CORP 35.63 -5.16 -16.89
KELYA KELLY SERVICES CL A 15.94 -2.74 -14.68
CCRT COMPUCREDIT CORP 10.46 -1.38 -13.83
SCVL SHOE CARNIVAL INC 13.25 -1.94 -13.75
IDTI INTEGRATED DEVICE TECH 7.61 -1.40 -12.38
_____________________________________________________________________
T H A N K Y O U
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