FROSTY FUTURES THURSDAY FEB. 13, 2003

TECH DATA FOR FRIDAY

DOW R=7785; 7805; 7855; 7915. S=7695; 7674; 7615.

SPX R=825; 832; 838. S=813; 804.

NDX R=968; 978; =980. S=938; 930; 910.

MAR TBOND R=11324; 11408; 11426. S=11308; 11224; 11200.

APR GOLD R=360; 367; 376. S=354; 352; 348.

MAR SILVER R=458; 466; 474. S=453; 448; 443.

APR CRUDE R=3560; 3630; 3680. S=3510; 3470; 3400.

MAR DOLLAR R=998; 1005; 1008. S=996; 991; 989.

MAR BEANS R=574; 580; 585. S=568; 564; 560; 556.

MAR WHEAT R=329; 333; 339. S=325; 322; 319.

Comments

You’ve read it all. If there is war the market will rally. If there is war the market will tank. Interest rates will go down, or up. The safest place to be, for now, is in three-year corporate AA or better paper. Get your gas masks, get duct tape. What a, oh well. Stick with the technical support and resistance numbers , for now, and you won’t be misled. Remember that once a trend begins, whether it’s tomorrow after the Blix speech or Tuesday after the holiday, it will last longer than you think. If a market is trending, during the day you should see five distinct waves in one direction or the other. That is three up and two down, or vice versa. If a market has only three waves, two in one direction and one corrective in nature, it is more than likely a correction off a larger cycle. If you need any help with this let me know.

Best to all,

Bill

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