Headlines – 2009.02.19

STOCKS: Temporary rally early doesn’t look to have legs
BONDS: After a minor post report bounce expect the bears to regain control
CURRENCIES: Corrective action in the Dollar primary benefactors Pound & C$
COPPER: Minor recovery bounce with prices tightly related to equity mkt action
METALS: Minor corrective tilt early but look for a recovery late in the session
CATTLE: Demand news remains weak and cash falls $2.00-$3.00; more liquidation?
HOGS: More weakness in hams and loins; Mexico import demand slipping?
BEANS: The market may be due for a burst of short covering. Wait to sell.
CORN: The grains are due for some short covering. Time to take profits.
WHEAT: Outside pressure has eased so it’s time for a short-covering rally.
ENERGY: Unless the EIA & economic news is bullish early gains could fade
COTTON: Sharp drop in demand may be priced; supply outlook tightens; chop/up
COFFEE: Following world economy and fearful of more producer selling; chop
SUGAR: Outside market forces turning more positive; resumption of uptrend?
COCOA: Improving supply outlook damages bull case but support from firm Pound