FW: INO.com Extreme Markets Daily Digest for May 11, 2000 ,
 ---------------------- Forwarded by Chris Germany/HOU/ECT on 05/16/2000 12:35 
PM ---------------------------


"Germany Jr, Don (WD)" <WDGERMANYJR@dow.com> on 05/15/2000 08:25:43 AM
To: "'Chris.Germany@enron.com'" <Chris.Germany@enron.com>
cc:  
Subject: FW: INO.com Extreme Markets Daily Digest for May 11, 2000


Check it out.

-----Original Message-----
From: INO.com [mailto:digest@ino.com]
Sent: Thursday, May 11, 2000 11:57 PM
To: wdgermanyjr@dow.com
Subject: INO.com Extreme Markets Daily Digest for May 11, 2000



   E X T R E M E    M A R K E T S    D A I L Y    D I G E S T
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I N   T H I S   E X T R E M E   D I G E S T                   May 11
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<1>  INO.com Market Wrap
<2>  New Featured Product
<3>  Extreme Market Commentary
<4>  Top News Stories
<5> Extreme Futures
<6> Extreme Stocks
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<1> I N O . C O M   M A R K E T   W R A P
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The CRB Index has climbed 1.64 points to 220.57. The US Dollar
Index trended higher 0.72 points to 111.25.

The Dow climbed 178.19 points, at 10545.97, while the S&P 500
rose 24.76 points, last seen at 1407.81. The Nasdaq
Composite rose 114.85 points to 3499.58.

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<2> F E A T U R E D   P R O D U C T
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<3> 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 MARKET closed sharply higher on Thursday following the
release of today's report on retail sales for April, which was down.
Today's report eased trader fears about rising interest rates
however; it is unlikely that it will cause the Fed. to abandon its
current policy of higher interest rates until there is further
evidence of a slow-down in the US economy. Technically, today's
action appears corrective in nature leaving the door open for
sideways too lower prices on Friday. It will take closes above
trendline resistance crossing near 10,760 to temper the near-term
bearish outlook in the Dow.

JUNE BONDS closed higher on Thursday following today's release of
friendly retail sales data. This week's rebound off the 62%
retracement level of this year's rally crossing at 92-31 has allowed
June to challenging initial trendline resistance crossing near 94-09.
Multiple closes above this resistance level would signal a minor low
might be in place.
http://www.quotewatch.com/charts/futures/CBOT/USM0-daily.html

CRB INDEX surged to new highs for the second day in a row confirming
Wednesday's trading range breakout above 217.88. Sharp gains in
energies supported today's rally in the CRB, which has renewed its
long-term uptrend. I would not be surprised to see the CRB trade
sideways too lower on Friday as it consolidates some of this week's
gains and possibly retest broken resistance at 217.88. However, this
week's move to new highs has opened the door for a possible test of
weekly resistance at 223.23 later this month.
http://www.quotewatch.com/charts/futures/NYCE/CRY0-daily.html

CURRENCIES the June Dollar closed higher on Thursday following
Wednesday's late-session turnaround. The setback off last week's low
as the appearance of a potential bull flag. Closes into new highs
would confirm an upside breakout of weekly resistance at 111.37,
which would open the door for a possible test of the 1981 high at
114.88 later this spring. The Swiss Franc and D-mark closed lower on
Thursday with the D-mark gapping down and closing below long-term
support at .4624. Closes below last week's lows in both markets are
needed to renew this spring's declines. The June Japanese Yen posted
a key reversal up after session lows fell short of the Feb. low at
.9125. Additional gains on Friday would confirm today's reversal
pattern however; June needs to close above .9394 to confirm a
short-term bottom has likely been posted.
http://www.quotewatch.com/charts/futures/NYCE/DXM0-daily.html
http://www.quotewatch.com/charts/futures/CME/SFM0-daily.html
http://www.quotewatch.com/charts/futures/CME/DMM0-daily.html
http://www.quotewatch.com/charts/futures/CME/ECM0-daily.html
http://www.quotewatch.com/charts/futures/CME/JYM0-daily.html

PRECIOUS METALS closed mixed on Thursday. June gold posted a new low
close for the week and in doing so turned a number of short-term
momentum indicators bearish. Follow-through weakness on Friday could
set the stage for a possible test of May's low at 273.60 in the near
future. July silver closed lower following Wednesday's inside day
increasing the odds July will try and test this spring's double
bottom at 4.975. Today's mid-range close leaves the door open for
sideways trading on Friday. July copper closed slightly higher on
Thursday after probing last week's gap. Momentum indicators are
overbought and turning bearish warning bulls, time is running out and
downside risk is increasing. Closes below gap support at 82.40 would
confirm a short-term top has been posted.
http://www.quotewatch.com/charts/futures/COMEX/HGN0-daily.html
http://www.quotewatch.com/charts/futures/COMEX/SIN0-daily.html
http://www.quotewatch.com/charts/futures/COMEX/GCM0-daily.html

GRAINS closed higher on fund buying and NOAA weather forecast. July
corn posted an inside day with a fractionally higher close as traders
digested Wednesday's bullish long-range weather forecast from NOAA.
Light consolidation ahead of Friday's supply/demand report also
limited today's gains. NOAA is still calling for a potential drought
this summer, as LaNina is likely to persist through August. A steady
too higher close on Friday sets the stage a possible resumption of
last week's rally next week if hot/dry weather returns to the
Midwest. July wheat gapped up and closed sharply higher for the
second day in a row due to strong fund related buying. Expectations
for a friendly supply/demand report on Friday and bullish weather
forecast have been the driving factors behind this week's rally.
Today's close above minor resistance at 2.78 1/2 makes March's high
at 2.84 July's next target, then this winter's high at 2.95 1/2. The
rising ADX signals additional short-term gains are possible during
May. http://www.quotewatch.com/charts/futures/CBOT/CN0-daily.html
http://www.quotewatch.com/charts/futures/CBOT/WN0-daily.html

SOYBEAN COMPLEX closed steady to lower due to consolidation ahead of
Friday's supply/demand reports. July beans posted an inside day in
relatively quiet trading ahead of tomorrow's reports. Never the less,
this week's rally is turning a number of short-term momentum
indicators neutral too bullish leaving July poised to renew this
year's rally if the weather turns hot and dry next week. Closes above
5.82 1/2 would confirm the uptrend has resumed. July soybean meal
spiked to new highs before light profit taking tempered today's
meager gain. Today's high-range close leaves July poised to extend
this month's move to new highs if Friday's reports come in neutral to
friendly. July bean oil closed lower on Thursday in narrow trading as
the market remains poised to extend its decline off May's high should
Friday's reports come in neutral to bearish. Today's bearish export
sales report does not bode well for the longer-term outlook in bean
oil. If the decline resumes, the 50% retracement level of this
spring's rally at 17.50 is July's next target.
http://www.quotewatch.com/charts/futures/CBOT/SN0-daily.html
http://www.quotewatch.com/charts/futures/CBOT/SMN0-daily.html
http://www.quotewatch.com/charts/futures/CBOT/BON0-daily.html

LIVESTOCK closed lower on Thursday pressured by weaker cash and
product prices. June hogs closed slightly lower but near session
highs as the market attempted to consolidate recent losses amidst a
sharp rebound in bellies. However, lower cash bids and additional
long-liquidation limited to day's rebound as the market is
consolidating above minor support at 71.96. Momentum indicators
remain bearish signaling further losses are possible later this
month. June cattle closed into new lows for the week confirming
Wednesday's trendline breakout. Today's close below April's low at
68.22 sets the stage for a test of March's low at 67.70 in the near
future. Expectations for rising grain prices and declining boxed beef
prices continues to weigh on prices.
http://www.quotewatch.com/charts/futures/CME/LHM0-daily.html
http://www.quotewatch.com/charts/futures/CME/LCM0-daily.html

FOOD & FIBER closed mixed on Thursday. July coffee continues to drift
sideways ahead of the May 19 retention plan meeting. July sugar
closed on spec. buying on ideas world surplus should continue to
shrink due to lower production levels in Brazil and other sugar
producing nations. Profit taking ahead of the close tempered today's
gains. July needs to close above 675 to renew this spring's rally.
July cocoa gapped up and closed higher due to fund short covering.
Today's high is challenging this spring's downtrend line crossing
near 830. Multiple closes above this resistance level are needed to
confirm a bottom and trend change. Momentum indicators are turning
bullish signaling additional gains are possible. I would not be
surprised to see an inside day on Friday as July consolidates some of
today's gains. July cotton posted a potential key reversal down on
Thursday after session highs fell short of testing the 75%
retracement level of this spring's decline at 62.76. Today's
mid-range close leaves the door open for sideways trading on Friday.
Bullish short-term weather forecast for West Texas and the southeast
US will continue to underpin prices. Momentum indicators are bullish
and suggest additional gains are possible.
http://www.quotewatch.com/charts/futures/CSCE/KCN0-daily.html
http://www.quotewatch.com/charts/futures/CSCE/SBN0-daily.html
http://www.quotewatch.com/charts/futures/CSCE/CCN0-daily.html
http://www.quotewatch.com/charts/futures/NYCE/CTN0-daily.html

The ENERGY MARKETS closed higher on Thursday with July heating oil
posting a new contract high today. July crude oil has retraced over
75% of this spring's decline setting the stage for a possible test of
March's high at 30.46 later this spring.
http://www.quotewatch.com/charts/futures/NYMEX/CLM0-daily.html
http://www.quotewatch.com/charts/futures/NYMEX/HOM0-daily.html
http://www.quotewatch.com/charts/futures/NYMEX/HUM0-daily.html

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_____________________________________________________________________

<4> T O P   N E W S   S T O R I E S
_____________________________________________________________________

Stocks

    Japan Stocks Review: Nikkei closes at lowest level since Sept. 27
 http://news.ino.com/summary/?id=21142

    Add1: US Equities Review: Broadly higher on tame retail sales data
 http://news.ino.com/summary/?id=21140

    UK Stocks Review: FTSE 100 closes up as rate hike fears recede
 http://news.ino.com/summary/?id=21150


Forex

    US FX Review: Euro/dollar retreats as market tires of ECB vigil
 http://news.ino.com/summary/?id=21144

    Asia FX Review: Yen buckles under weight of Nikkei's losses
 http://news.ino.com/summary/?id=21141

    Europe FX Review: Market choppy; Mr Euro can't save the euro
 http://news.ino.com/summary/?id=21143


Credit

    Add 1: US Credit Review: Bonds flat; weak sales data elicit selling
 http://news.ino.com/summary/?id=21139

    Europe Credit Review: Bonds fall with weak currencies key
 http://news.ino.com/summary/?id=21146

    Japan Credit Review: June surge; cash fall below 1.7% on weak shares
 http://news.ino.com/summary/?id=21149


Commodities

    US Futures Summary: CRB zooms to fresh 2-year high with energy
 http://news.ino.com/summary/?id=21148

    Japan Commodity Summary: Japan's Tokyo, Yokohama agricultural commodities 
futures prices
 http://news.ino.com/summary/?id=21145

    CRB Outlook: Starting higher on cocoa, copper
 http://news.ino.com/summary/?id=21147


Exchange News

   LME Memo On Delisting Of Albatros Warehousing BV
               http://news.ino.com/press/index.cgi?release=21099
   LME Memo On Rudolf Wolff Co Ltd Disciplinary Action
               http://news.ino.com/press/index.cgi?release=21098
   NASD Extends Board Member Election Process By 15 Days
               http://news.ino.com/press/index.cgi?release=21097
   Trading Interrupted At Pacific Exchange
               http://news.ino.com/press/index.cgi?release=21096
   PCX To Trade Options On Tollgrade Communications
               http://news.ino.com/press/index.cgi?release=21095
   NYBOT Reports Cocoa Futures Open Interest Record
               http://news.ino.com/press/index.cgi?release=21094
   Paris Exchange To Study Prospects For Wine Futures Contract
               http://news.ino.com/press/index.cgi?release=21093
   CME's Equity Index Contracts Set New Records
               http://news.ino.com/press/index.cgi?release=21092

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<5> E X T R E M E   F U T U R E S
_____________________________________________________________________

Extreme Futures - updated every 15 minutes during the trading day
at http://quotes.ino.com/analysis/extremefutures.html

Winners

Symbol Description                             Close    Change      %
HOM0   Heating Oil Jun 2000                   0.7750   +0.0403    5.5
NDM0   NASDAQ 100 Index Jun 2000             3390.00   +133.00    4.1
CCK0   Cocoa May 2000                            796       +31    4.0
RLM0   Russell 2000 Index Jun 2000            494.50    +18.05    3.8
CLM0   Crude Oil Jun 2000                      29.10     +1.01    3.6
PNM0   Propane Gas Jun 2000                   0.5050   +0.0150    3.0
XWK0   Wheat May 2000                            278    +7 1/2    2.8
WK0    Wheat May 2000                        268 1/2    +7 1/2    2.8
PBK0   Frozen Pork Bellies May 2000           92.900    +2.550    2.8
HUM0   New York Harbor Gasoline Jun 2000      0.9365   +0.0244    2.7

Losers

Symbol Description                             Close    Change      %
BDK0   Oriented Strand Board May 2000         234.00     -4.00   -1.7
NKU0   Nikkei 225 Stock Avg Sep 2000           17300      -285   -1.6
KCZ0   Coffee "C" Dec 2000                    105.20     -1.40   -1.3
XMM0   Deutsche Mark Jun 2000                 0.4660   -0.0050   -1.1
ECU0   EuroFX Sep 2000                       0.90740  -0.00960   -1.1
PAU0   Palladium Sep 2000                     578.50     -5.50   -0.9
SFU0   Swiss Franc Sep 2000                  0.58500  -0.00500   -0.8
XKZ0   New York Gold Dec 2000                    285      -2.1   -0.7
GCZ0   Gold Dec 2000                             285      -2.1   -0.7
BPM0   British Pound Jun 2000                 1.5034   -0.0094   -0.6

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<6> E X T R E M E   S T O C K S
_____________________________________________________________________

Extreme Stocks - updated every 15 minutes during the trading day
at http://quotes.ino.com/analysis/extremestocks.html

Winners

Symbol Description                             Close    Change      %
MNTR   Mentor Corp.                           24 3/8  +6 14/32   35.9
GNET   Go2Net Inc.                            45 5/8    +9 5/8   26.7
ALKS   Alkermes, Inc.                             61 +10 14/32   20.6
LCOS   Lycos, Inc.                                54    +8 5/8   19.0
NMSS   NATURAL MICROSYSTEMS CORP                  67   +10 5/8   18.9
IRF    International Rectifier Corp.        44 26/32        +7   18.5
XICO   Xicor, Inc.                           7 15/32   +1 5/32   18.3
IMRS   INFO MANAGEMENT RESOURCES                  19    +2 3/4   16.9
HNCS   HNC Software, Inc.                    45 6/32    +6 1/2   16.8
LE     Land's End, Inc.                           40    +5 3/4   16.8

Losers

Symbol Description                             Close    Change      %
MYL    Mylan Laboratories, Inc.             23 30/32    -7 1/8  -22.9
BSY    British Sky Broadcasting Group PLC        115       -20  -14.8
WDC    Western Digital Corp.                   5 7/8        -1  -14.6
RCOM   RACOM SYS                                  45    -5 1/2  -10.9
CURE   Curative Health Services, Inc.          5 3/8      -5/8  -10.4
CTSC   Cellular Technical Services Co.             9    -29/32   -9.2
WERN   Werner Enterprises, Inc.              16 6/32  -1 18/32   -8.8
COOL   Cyberian Outpost                       5 6/32      -1/2   -8.8
DMRK   Damark International Inc. A           21 6/32  -1 30/32   -8.4
MLG    Musicland Stores Corp.                  7 1/4    -18/32   -7.2

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