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The Hightower Report - Opening Calls

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05/13/2008

Bonds +65 Sugar -7 Beans +5.5 Crude -48
S&P 500 -3.9 Cotton -10 Meal +1.0 Unleaded -50
Dow -27 Cocoa -21 Soyoil +0.9 Heat +386
Yen +6 Coffee -120 Corn -3.8 Nat Gas -30
Euro -61     Wheat -1.5    
Swiss -32         Gold -6.00
Canada -23     Cattle +5 Silver -8.50
Pound -83     Hogs +55 Platinum -484.0
Dollar +215         Copper +210

DAILY MARKET SUMMARY
STOCKS: THE BULLS NEED SOMETHING FRESH TODAY OR THE BEARS RETAIN THE UPPER HAND
BONDS: THE MARKET NEEDS SOFT DATA TO JUSTIFY HOLDING AT THE TOP OF THE RANGE
CURRENCIES: STILL NO LEADERSHIP CURRENCY PERHAPS THE DOLLAR OR SWISS
COPPER: THE MARKET REMAINS VULNERABLE MOSTLY BECAUSE OF DEMAND DISAPPOINTMENT
METALS: A SLIGHTLY FIRMER DOLLAR AND WEAKER OIL FAVORS THE BEAR CAMP TODAY
CATTLE: BETTER THAN EXPECTED DEMAND AND EXPORTS COULD IMPROVE; CHOP HIGHER
HOGS: STILL UPSIDE POTENTIAL AS WEIGHTS, SUPPLY ON DECLINE; BUY BREAKS
BEANS: SOYBEANS GAINING ON GOOD PLANTING WEATHER FOR CORN. MORE TO FOLLOW?.
CORN: DRIER WEATHER HAS CHANGED THE LANDSCAPE. TAKE PROFITS. DON'T BUY BREAKS.
WHEAT: NARROWER RANGES PORTEND PUSH THROUGH RECENT LOWS. LOWER THE BUY POINT.
ENERGY: THE MARKET IS VULNERABLE TO TEMPORARY BACK & FILL ACTION
COTTON: SUPPLY UNCERTAINTY AND TIGHTENING WORLD SUPPLY TO SUPPORT UP; FIRM
COFFEE: INCREASING SUPPLY BUT CLASHING WITH BUYERS FOR COLD SEASON AHEAD; WEAK
SUGAR: SLOW TURN TO IMPROVING DEMAND AND SUPPLY FUNDAMENTALS AHEAD; BUY CALLS
COCOA: LOOK FOR A TEST OF THE APRIL HIGH IF THE DOLLAR RESUMES ITS DOWNTREND
 


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