Headlines – 2009.02.04

STOCKS: Hope for the stimulus package leaves the bulls with control
BONDS: Expect a fresh downside breakout off fresh supply evidence
CURRENCIES: Dollar and Yen dominance is starting to break down
COPPER: The bulls have the edge but the market should be limited
METALS: Residual bullishness in place – A shift away from flight to quality?
CATTLE: Need strong demand signals to see sharp up; expect chop/higher
HOGS: Forming s low and preparing to absorb smaller supply ahead; consolidate
BEANS: Fundamentals somewhat negative, but technicals point higher for now.
CORN: Outlook still bearish, but selling may be temporarily exhausted.
WHEAT: Further tests of the recent lows may be followed by short covering.
ENERGY: For now supply builds are being discounted
COTTON: Will need confidence in world economy to buy; sell calls
COFFEE: In position to remain in uptrend but may need some help from outside
SUGAR: Buy rumor; sell fact selling ahead; Overbought and due for set-back
COCOA: Still looks overbought & speculators may lack buying incentive right now