Market Headlines – 2008.11.28

STOCKS: Give the market some initial respect but be short before the close
BONDS: The bullish bias remains in place but ranges might narrow today
CURRENCIES: Look to be long the Yen on any weakness today
COPPER: Renewed fears of slowing give the bear camp the edge today
METALS: Profit taking could be accentuated by month end book squaring
CATTLE: Weak demand tone may support more back and fill action; chop for now
HOGS: Futures at stiff premium but cash news positive and trend up
BEANS: The 1-week rally based on improved economic sentiment is unimpressive.
CORN: Upside momentum in wheat & soybeans is slowing. Corn may make new lows.
WHEAT: Buy on a move through resistance levels or simply stand aside.
ENERGY: Early weakness may give way to sht covering if OPEC signals big cut
COTTON: Bounce helped ease oversold condition but demand news to weaken; down
COFFEE: Watch for bounce but not much more; 122.30 as key resistance for March
SUGAR: New news slow, weak demand from Russia; recovery bounce near complete?
COCOA: Up as the global supply/demand outlook turns bullish