FROSTY FUTURES JANUARY 13, 2003

DOW R=8820; 8940; 9000; 9050. S=8685; 8595; 8500.

SPX R=933; 941; 950; 955. S=918; 910; 904.

NDX R=1095; 1110; 1135; 1155. S=1065; 1055; 1035.

USH R=10912; 10928; 11012. S=10816; 10720; 10700.

FEB GOLD GCG R=358; 362; 369. S=350; 347; 345; 342.

MAR SILVER SIH R=491; 494; 510. S=482; 478; 475; 472.

MAR DOLLAR DXH R=102; 10250. S=10080.

MAR CRUDE CLH R=3115; 3210; 3240. S=3060; 3000; 2915.

MAR BEANS R=562; 564; 568. S=555; 548; 544.

MAR WHEAT R=325; 333; 340. S=317; 312; 308.

INDICES
 The Dow is at a pivot, as is the SPX and NDX. Given the size of last week's range one can project a target, on the upside, near 9000, 950 and 1135, respectively. Bias remains bullish, in spite of contraindications from some economists and long-time bear fund managers. For years we, in the investment world, have been led to believe that tools were in place to prevent another catastrophic event like what happened to our economy in the second and third decades of last century. That theory may be tested very soon. Naturally, I choose to be an optimist and believe we are strong enough and smart enough and compassionate enough to avoid that kind of circumstance. What is now behind the rhetoric from the doom and gloom camp is not easy for me to determine in anything but the most simplistic terms and I think that won't do for purposes of planning for our future. I can tell you this, the Mid-West is just as confused as Wall Street. Some are doing exceptionally well. Others are on the very brink of dispair and bankruptcy. There just is no clear cut evidence to lead to a conclusion one way or the other.

 And I believe that says it all for the entire market complex. So my advice to you all is to follow the techicals, the money, and don't believe a word you hear or read from any
media source (me included if you so choose).

CONTACT ME: www.frostyfutures.com or call 615 331 8567

Trading futures is for individuals willing to assume greater risk for the opportunity of greater rewards. Only speculative capital should be used. Information contained herein is derived from sources believed to be reliable but is not guaranteed. Ideas and suggestions are just that and no more. Nothing contained herein is to be construed to be a solicitation to trade futures or options. Hedgers should have a defined plan.

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