October 19th  
2005  
  SENTIMENT LEGEND  
This is Contrarian data from the largest and most unique database of Individual Investors available. It is important data that investors should be aware of and has emerged as an accurate contrarian indicator based on data from individual investors (or Mr. Public).

Futures Sentiment Data Indicating Extremes

EDITORS NOTE: We have had a number of questions asked over the past few reports in regard to the 'how, why, what, and where' of our data and we thought we would take a few paragraphs to help users better understand and utilize the information found in our reports: (click here to jump down to the beginning of report)

1. What do the percentages found in the report represent?
The percentages are based on the bullish sentiment response from investors in our twice monthly markets survey - specifically which commodity investor's believe will provide the best return over the next three months. We survey individual investors that have registered with whispernumber.com and gain responses from between 850 and 1,250 participants for each survey conducted.

2. How are ranges determined for a commodities oversold, neutral, and overbought rankings?
The oversold, overbought, and neutral ranges are based on the past 52 weeks high and low bullish sentiment figures for a given commodity, with an analysis of historical price movement to determine cut off points.

3. What does contrarian mean?
This is the best definition we've found: 'One who takes a contrary view or action, especially an investor who makes decisions that contradict prevailing wisdom, as in buying securities that are unpopular at the time.' WhisperNumber futures data is analyzed and presented on this basis.

4. Why is your data presented on a contrarian basis?
We look to see where the 'herd' is headed, and take the opposite route. The 'herd' (in this case actual investors) are usually chasing a market higher or lower. In some cases chasing the market does yield positive results, but in most cases chasing a market ends up in losses. Analysis of our data concluded we were taking a snapshot of sentiment that indicated the opposite of actual market moves. Thus, it required contrarian interpretation in order to be accurate.

5. How can I use the 'Live' data?
The live data is an important aspect of the service as it provides the first insight to the most current sentiment. For three days (Wed-Fri) in the week prior to the futures report release our users are able to see the actual sentiment as it is collected in our twice monthly surveys. You're seeing the information at the same time we do. Utilizing the sentiment legend to determine overbought, oversold, or neutral conditions, the live data may provide an early warning to a change in a position or a new sentiment position.

6. Why does the most recent report data change when the live survey is run?
We have a number of 'modules' in our reports that allow for automatic updates of our sentiment information. During the surveys these modules update twice a day and will add the new data to the 'current' report. The Live data should be used during the survey runs to ensure the most recent information is being viewed. After the survey ends (on the Friday prior to a new report release), the Bullish Sentiment Summary found at the end of each report will contain the most current information and rankings. (Looking at the most current date will make sure you are looking at the most recent data.) This way you can get a 'preview' of the data we will be commenting on in the next report release.

7. How can the report best be used?
The report can be used as a 'stand alone directive' or as 'position confirmation'. 'Stand alone' simply means using the oversold or overbought readings to make trades without any other influence or information being taken into consideration. 'Confirmation' means using the information in conjunction with one or two other reports/services, comparing the data, and seeing where the overlap or similar market conditions exist. (We use oversold and overbought, another service may simply use buy and sell.)

Our data continues to be accurate and profitable. If you have any additional questions or require clarification on any of the report aspects, please contact client services (David Hunimen) at david@whispernumber.com. Thank you.



Introduction: Last reports format gained some praise as it allowed users a quick box summary of the winners and losers from the prior report. We'll continue until we hear otherwise or can provide something even better.

In our last report (10/5) sentiment indicated favorable (oversold) market conditions in eight commodities, and one overbought condition (lumber). The following table provides a look at the market moves since last report (10/5 close to 10/18 close):

Commodity 10/5 Sentiment 10/5 Close 10/18 Close % Change
  Corn (Dec) Oversold 204.75 202.00 -1.3%
  Cotton (Dec) Oversold 53.91 55.37 +2.7%
  Soybeans (Nov) Oversold 563.5 584.5 +3.7%
  Wheat (Dec) Oversold 345.00 328.75 -4.7%
  Coffee (Dec) Oversold 93.7 104.1 +11.0%
  Milk (Nov) Oversold 13.47 13.81 +2.5%
  OJ (Nov) Oversold 103.5 108.9 +5.2%
  Sugar (Mar) (high risk) Oversold 11.44 11.69 +2.2%
  Lumber (Nov) (high risk) Overbought 289.3 283.5 -2.0%

So as you can see we had another very decent nine day trading period ending up with 7 winners out of 9 extreme sentiment levels from the last report. The big winner was coffee and the big loser was wheat. Winners heavily outweighed losers. Once again you should have seen profits from the last report.

The attention on the energy markets appears to be waning slightly but another large storm in Gulf of Mexico should bring it back to the forefront. Projections are away from the major refineries at this time. Over the past two weeks oil prices remained volatile having dropped to a $60 price point. Pricing has since recovered to a $63 level. Natural gas started pulling back on the day of our last report when we had an overbought sentiment reading and negative outlook for the market. High risk takers may have taken advantage of the recent negative price move but we stressed that most investors should stay away from the market.

After seeing another neutral sentiment read for the CRB we expected more volatility in the index. For a few days following last report the index fell, then recovered, only to fall again, before recovering. Not for the weak at heart as we dictated caution in the market.

Our statement from the last few reports to avoid the energy markets and CRB index and look at other specific commodity markets continues to remain true and provide areas for the best returns.

Overall metals group readings decreased 6.8% but remains high. The current reading has fallen into a neutral level although it is still very close to an overbought area. Copper and Platinum are choppy but higher, Gold is also choppy but trending lower, while Palladium and Silver are up strong. We think sentiment is moving in the right direction as there is not much reason (in the overall metals markets) for high sentiment. (Current sentiment and individual metals commentary can be found below.)

Metals Group   (Includes Gold, Silver, Copper, Platinum, Palladium)
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Bullish 56.8% 59.8% 57.0% 62.4% 66.9% 60.1% Neutral -6.8% 39.7% 66.9%
  Bearish 11.6% 14.0% 15.5% 10.0% 11.9% 11.6% -0.3% 8.6% 24.5%
  Neutral 31.6% 26.2% 27.5% 27.7% 21.2% 28.3% +7.1% 20.4% 40.7%

Agriculture and soft commodities sentiment continued its trend lower moving to a new 52 week extreme low and remaining at an oversold level. The low sentiment remains surprising as there have been strong moves in Coffee and OJ. Perhaps the negative move in wheat has influenced the group sentiment. Anyway you look at the data it's good news for investors looking for continued gains in the ag and soft commodities markets. (Current sentiment and individual ag/softs commentary can be found below.)

Agriculture Group   (Includes Grains, Livestock, Softs)
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Bullish 46.2% 47.0% 55.1% 49.4% 43.7% 37.7% Oversold -6.0% 37.7% 55.1%
  Bearish 8.3% 11.0% 13.3% 11.6% 19.4% 18.7% -0.7% 8.3% 19.4%
  Neutral 45.5% 42.0% 31.6% 39.0% 36.9% 43.7% +6.8% 31.6% 46.7%

Sentiment in the overall energy markets sector has pulled back by 8.7% into a neutral level. (This coming after last reports new 52 week high and overbought reading.) The current data supports our earlier statement that the market attention may be 'waning slightly' and may (finally?) be the start of a negative sentiment trend. We'll continue to restate our comments from past reports until a trend is established: 'The up/down/up/down sentiment pattern continues with this current reading and that tells us volatility will also continue. Our position remains clear and unchanged: 'these types of markets are not the ones to play in'.' (Current sentiment and individual energy markets commentary can be found below.)

Energy Group   (Includes Crude oil, Heating Oil, Natural gas)
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Bullish 77.0% 72.1% 78.6% 69.9% 79.8% 71.1% Neutral -8.7% 58.1% 79.8%
  Bearish 8.2% 10.3% 8.4% 9.7% 9.0% 10.8% +1.8% 7.7% 17.2%
  Neutral 14.8% 17.6% 13.0% 20.4% 11.2% 18.1% +6.9% 11.2% 27.0%

The overall major commodity bullish average moved 7.2% lower and that's a good direction for the contrarian. Sentiment remains neutral and indicates the CRB is not an index that will be providing strong returns in either direction. More volatility is expected and we dictate caution moving forward.

Average Group Sentiment   (Average for Metals, Ag, and Energy groups)
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo   Hi
  Bullish 60.0% 59.6% 63.6% 60.6% 63.5% 56.3% Neutral -7.2% -- --
  Bearish 9.4% 11.8% 12.4% 10.4% 13.4% 13.7% +0.3% -- --
  Neutral 30.6% 28.6% 24.0% 29.0% 23.1% 30.0% +6.9% -- --

Although overall average bullish sentiment moved significantly lower there is still a greater chance for lower prices to win out (aside from the Agriculture group) in the major commodity market averages.



METALS SENTIMENT LEGEND
GOLD AND SILVER SENTIMENT

Gold Review: After the last report release, Gold attempted to make a move higher but had no legs to stand on. Gold is down less than one percent over the past two weeks and (again) sentiment helped avoid losses in the market by indicating a neutral situation.

Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Gold 8.4% 8.9% 8.1% 9.4% 9.5% 14.0% Neutral +4.5% 5.7% 15.7%


Current sentiment actually jumped higher to 14% on choppy gold market trading. This is still considered neutral but is very close to an overbought market indication. It appears next report may push the market over the edge as the sentiment trend is towards higher levels. We may be at or at least very near a market top.

Silver Review: Last report we mentioned we could be entering an extended period of neutrality (as sentiment was similar to a reading on 7/22). The market, however, continued to move significantly higher.

Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Silver 1.7% 1.7% 0.4% 1.1% 1.5% 1.8% Neutral +0.3% 0.4% 3.6%


Current sentiment data continues at a neutral level. We may have missed some last 'surge' gains but sentiment dictates the market direction. We'll continue to avoid the market until an extreme level is gained (and the direction right now is more towards overbought and unfavorable.)



COMMODITY SENTIMENT LEGEND
COMMODITIES SENTIMENT

Observations: (This section will provide commentary and charts on special commodity sentiment situations. We may not review each commodity separately, but look to focus on those products that we feel represent extreme overbought or oversold sentiment pricing situations.)

Cattle, Pork, Meat   
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Cattle (live) 0.3% 0.3% 0.4% 0.4% 0.7% 0.4% Oversold -0.4% 0.3% 2.3%
  Hogs (lean) 0.7% 0.0% 0.8% 0.4% 0.4% 0.4% Neutral -0.0% 0.0% 1.7%

Cattle (Live): Last report sentiment moved from a favorable oversold market condition to a neutral level. We took gains of 4% off the table and looked for other opportunities. After that report the market continued moving higher (minimal gains) and topped out on 10/13. If you maintained a cattle position since last report you would have given back close to all profits from the past favorable readings. Current sentiment indicates the correction is over and we should see higher prices moving forward.


Hogs: The hog market collapsed over the past two weeks. A short position would have been profitable and our neutral position kept us from losses. Sentiment remains unchanged and neutral.

Grains, Oilseeds  
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Corn 3.7% 3.8% 1.9% 1.8% 1.1% 2.2% Neutral +1.1% 1.0% 4.4%
  Cotton 1.0% 1.0% 1.2% 0.7% 0.0% 1.1% Neutral +1.1% 0.0% 2.9%
  Soybean 4.4% 3.8% 3.5% 2.9% 2.2% 2.2% Oversold -0.0% 1.5% 7.2%
  Wheat 1.3% 1.0% 0.0% 1.8% 0.4% 1.8% Neutral +1.4% 0.0% 2.9%

Corn: Corn was one of only two commodities that moved against the sentiment reading. The losses have been minimal and the move may have been early. We still believe the market is at or near a bottom, but sentiment has moved higher and is now at a neutral level.

Cotton: Sentiment hit 0% last survey and we expected higher prices moving forward. 2.7% gains over the past two weeks can be considered a very strong move in this market, and if you exited early you would have doubled those gains. Sentiment has now moved to the neutral category.

Soybeans: We expected gains after last reports oversold reading and over the past two weeks the market moved a very decent 3.7% higher. Sentiment remains unchanged and we'll look for those gains to continue moving forward.


Wheat (CBOT): Sentiment was flip flopping (as we did indicate in last report) and maybe we should have been more cautious with the oversold sentiment read. That aside, wheat moved lower against the oversold reading (our second of only two markets that went against sentiment.) Wheat has moved to a neutral sentiment level.

Food, Fiber  
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Cocoa 1.0% 1.0% 0.8% 1.1% 0.7% 0.4% Oversold -0.4% 0.0% 5.8%
  Coffee 3.4% 4.4% 2.3% 2.5% 1.8% 4.3% Neutral +2.5% 1.8% 9.1%
  Lumber 4.7% 4.8% 11.6% 14.5% 13.5% 10.4% Neutral -3.1% 2.6% 14.5%
  Milk 0.0% 0.0% 0.0% 0.4% 0.0% 0.0% Oversold 0.0% 0.0% 1.3%
  Orange Juice 1.7% 2.7% 1.9% 1.8% 1.5% 1.4% Oversold -0.0% 1.1% 7.4%
  Sugar 1.3% 0.7% 1.9% 1.4% 0.4% 1.4% Neutral +1.1% 0.4% 2.7%

Cocoa: We've watched as sentiment was trending lower for the market and with the current data we have reached an oversold level. The trend is favorable and the reading is favorable. We'll look for higher prices moving forward. Market prices are currently trending higher.

Coffee: Our combined favorable sentiment readings over the past few surveys have given us a 12.5% positive return on investment. However, this type of move gains attention very quickly and sentiment jumped 2.5 points higher to a neutral level. Take the gains off the table and look elsewhere.

Lumber: Sentiment remained overbought, and over the past two weeks if you took what we considered a high risk short position you would have seen strong profits. The market remains volatile and we would expect a greater chance of higher prices moving forward based on a new hurricane scare. Sentiment has moved to a neutral position. (High risk taker should have been watching the live data to get out of the position either Friday of last week or early this week.)

Milk: Last report sentiment indicated a favorable oversold market. Investor's have to be happy with 2.5% gains in this market since that report. Sentiment remains at 0% (oversold) and we'll look for gains to continue.


Orange Juice: We had already seen 10.5% gains in the market based on favorable sentiment readings since 9/7. And last report sentiment remained oversold indicating more gains and we added another 5.2% to the 10.5%. We also issued a word of caution ("don't get greedy") which we hope you ignored. We'll issue it again as we crunch the numbers: the November OJ contract on 9/7 closed at 92.3, and on 10/18 at 108.9. The total is actually an 18% gain in a month and a half. Don't get greedy but sentiment has actually moved lower and indicates more gains can be expected.


Sugar: We expected prices to move higher as sentiment did indicate an oversold market. And prices did continue higher. But because the price of sugar had been moving higher for such an extended amount of time, we remained cautious and decided to wait for confirmation of an oversold reading. We also issued a high risk statement to expect gains to continue. High risk won out as the market moved higher by 2.2%. Current sentiment moved into a neutral range so the conservative traders didn't win or lose, and high risk players can walk away with decent gains.

Energy  
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Crude Oil 30.9% 30.7% 29.3% 18.5% 12.4% 12.2% Neutral -0.2% 8.4% 36.4%
  Heating Oil 9.1% 8.5% 10.8% 12.7% 13.5% 10.4% Neutral -3.1% 0.8% 21.0%
  Natural Gas 16.1% 16.7% 20.8% 25.0% 33.9% 32.3% Overbought -1.7% 11.7% 33.9%

Heating Oil, Natural Gas and Crude Oil: Crude and heating oil sentiment remain neutral. Both have seen choppy trading over the past two weeks, with heating oil trending lower. Natural gas remains at an overbought level just off last reports all time overbought extreme reading. Over the past two weeks this market has pulled back a full 4.5%. We indicated this would have been a high risk position. We'll continue to stay away from the energy markets trades, but high risk traders may continue to look for lower prices in the natural gas market.

Metals  
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  Copper 6.4% 5.8% 1.5% 1.4% 3.3% 1.4% Oversold -1.9% 1.4% 8.9%
  Gold 8.4% 8.9% 8.1% 9.4% 9.5% 14.0% Neutral +4.5% 5.7% 15.7%
  Palladium 1.3% 3.1% 1.5% 1.4% 1.8% 1.1% Oversold -0.7% 1.1% 3.7%
  Platinum 2.7% 1.0% 1.2% 0.7% 1.5% 1.1% Neutral -0.4% 0.4% 3.9%
  Silver 1.7% 1.7% 0.4% 1.1% 1.5% 1.8% Neutral +0.3% 0.4% 3.6%

Copper: Sentiment indicates an oversold market. But we're starting to see a pattern of flip flopping in the reading. This indicates uncertainty and following favorable sentiment at this time would be for high risk takers only.

Palladium: Sentiment moved to an oversold level with the recent survey. A definitive trend has not been established, and we think it would be an early call to jump into the market and expect gains. High risk: look for gains moving forward. Rest of us: wait for confirmation.

Platinum: Sentiment remains neutral as the market has been choppy.



CURRENCY SENTIMENT LEGEND
CURRENCY SENTIMENT

Currencies  
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo       Hi
  US Dollar 41.8% 36.8% 27.2% 28.8% 40.6% 33.8% Neutral -6.8% 18.6% 56.0%
  Euro 31.2% 30.0% 34.2% 30.5% 25.7% 29.7% Neutral +3.9% 15.9% 53.6%
  Australian Dollar 28.9% 35.4% 35.0% 36.4% 37.1% 33.6% Neutral -3.5% 28.3% 41.8%
  Brazilian Real 17.7% 17.4% 20.6% 21.0% 23.9% 22.8% Neutral -1.2% 16.4% 23.9%
  British Pound 31.5% 27.9% 31.5% 27.5% 20.8% 26.9% Neutral +6.1% 18.6% 42.5%
  Canadian Dollar 32.0% 28.7% 34.1% 37.3% 38.5% 32.8% Neutral -5.7% 26.0% 38.5%
  China Yuan 52.9% 53.6% 49.5% 44.9% 48.4% 46.8% Neutral -1.6% 29.9% 53.6%
  Japanese Yen 29.0% 34.8% 32.9% 37.0% 42.5% 40.4% Overbought -2.1% 21.3% 42.5%
  Mexican Peso 10.6% 13.2% 15.0% 11.5% 13.7% 13.3% Neutral -0.4% 10.0% 17.7%
  New Zealand Dollar 25.5% 28.6% 28.9% 28.9% 26.7% 24.8% Oversold -2.0% 24.4% 38.9%
  Russian Rouble 8.9% 13.5% 11.5% 11.5% 18.2% 15.7% Neutral -2.5% 8.1% 18.5%
  S. African Rand 11.5% 10.1% 13.9% 11.2% 15.2% 16.7% Neutral +1.6% 8.8% 21.9%
  Swiss Franc 27.5% 23.8% 24.5% 26.0% 27.4% 24.4% Neutral -3.0% 19.4% 38.7%

US Dollar: The currencies sentiments have moved back to a period of complacency as the majority are at a neutral level. We looked for sentiment to continue moving higher in the US dollar and reach an overbought level with the current reading, but investors have other expectations. The current data dropped 6.8% and remains firmly entrenched in the neutral range. The reading is unusual based on the strong positive move of the dollar since early September.

Current Four Month Dollar v. Euro

Euro: Euro sentiment remains neutral and the current read has halted the trend lower.

Swiss Franc: (Hand in hand with the Euro) - The Swiss Franc sentiment remains neutral and the current read has halted the trend higher.

Japanese Yen: The Yen continues to move lower and sentiment indicates more of the same negative price action moving forward.

China Yuan: Current sentiment moved slightly lower but remains neutral.

UK Pound: We expected to see gains in the Pound since last report and if you took the gains after just one trading day after that report you are happy. But since then the market has just been choppy and trending lower moving against sentiment. Current data is neutral.

Russian Ruble: We were waiting for confirmation of the overbought reading from last report but we did not get it. Sentiment remains neutral.

Mexican Peso: Sentiment remains basically unchanged and neutral.

Brazilian Real: We had a weak overbought reading last survey and for the past two weeks the Real did see some moderate losses thru choppy trading. Sentiment is now back to a neutral level.

Australian Dollar: Sentiment was trending higher but the current data moved it away from a potential overbought situation. The market will remain in the neutral category.

Canadian Dollar: Sentiment remained overbought with last survey and we were quite confident in the reading indicating more losses in the market. But trading has been more than choppy over the past two weeks and although moderate gains could have been seen at certain exit points over that time frame, holding the position since last report would have yielded minimal losses. Sentiment is now back to a neutral level.

New Zealand Dollar: After a long period of sentiment complacency, the NZ dollar has moved to an oversold level. We'll look for higher prices moving forward.



Bullish Sentiment Summary
Report Release Dates/Results 52 week
   8/05 8/19 9/02 9/16 9/30 10/14 Sentiment % Change Lo   Hi
 
 Group Bullish Sentiment
  Metals 56.8% 59.8% 57.0% 62.4% 66.9% 60.1% Neutral -6.8% 39.7% 66.9%
  Agriculture 46.2% 47.0% 55.1% 49.4% 43.7% 37.7% Oversold -6.0% 37.7% 55.1%
  Energy 77.0% 72.1% 78.6% 69.9% 79.8% 71.1% Neutral -8.7% 58.1% 79.8%
  Avg. Group 60.0% 59.6% 63.6% 60.6% 63.5% 56.3% Neutral -7.2% -- --
 
 Cattle, Pork, Meat
  Cattle (live) 0.3 0.3 0.4 0.4 0.7 0.4 Oversold -0.4 0.3 2.3
  Hogs (lean) 0.7 0.0 0.8 0.4 0.4 0.4 Neutral -0.0 0.0 1.7
 
 Grains, Oilseeds
  Corn 3.7 3.8 1.9 1.8 1.1 2.2 Neutral +1.1 1.0 4.4
  Cotton 1.0 1.0 1.2 0.7 0.0 1.1 Neutral +1.1 0.0 2.9
  Soybean 4.4 3.8 3.5 2.9 2.2 2.2 Oversold -0.0 1.5 7.2
  Wheat 1.3 1.0 0.0 1.8 0.4 1.8 Neutral +1.4 0.0 2.9
 
 Food, Fiber
  Cocoa 1.0 1.0 0.8 1.1 0.7 0.4 Oversold -0.4 0.0 5.8
  Coffee 3.4 4.4 2.3 2.5 1.8 4.3 Neutral +2.5 1.8 9.1
  Lumber 4.7 4.8 11.6 14.5 13.5 10.4 Neutral -3.1 2.6 14.5
  Milk 0.0 0.0 0.0 0.4 0.0 0.0 Oversold 0.0 0.0 1.3
  Orange Juice 1.7 2.7 1.9 1.8 1.5 1.4 Oversold -0.0 1.1 7.4
  Sugar 1.3 0.7 1.9 1.4 0.4 1.4 Neutral +1.1 0.4 2.7
 
 Energy
  Crude Oil 30.9 30.7 29.3 18.5 12.4 12.2 Neutral -0.2 8.4 36.4
  Heating Oil 9.1 8.5 10.8 12.7 13.5 10.4 Neutral -3.1 0.8 21.0
  Natural Gas 16.1 16.7 20.8 25.0 33.9 32.3 Overbought -1.7 11.7 33.9
 
 Metals
  Copper 6.4 5.8 1.5 1.4 3.3 1.4 Oversold -1.9 1.4 8.9
  Gold 8.4 8.9 8.1 9.4 9.5 14.0 Neutral +4.5 5.7 15.7
  Palladium 1.3 3.1 1.5 1.4 1.8 1.1 Oversold -0.7 1.1 3.7
  Platinum 2.7 1.0 1.2 0.7 1.5 1.1 Neutral -0.4 0.4 3.9
  Silver 1.7 1.7 0.4 1.1 1.5 1.8 Neutral +0.3 0.4 3.6
 
 Currencies
  US Dollar 41.8 36.8 27.2 28.8 40.6 33.8 Neutral -6.8 18.6 56.0
  Euro 31.2 30.0 34.2 30.5 25.7 29.7 Neutral +3.9 15.9 53.6
  Australian Dollar 28.9 35.4 35.0 36.4 37.1 33.6 Neutral -3.5 28.3 41.8
  Brazilian Real 17.7 17.4 20.6 21.0 23.9 22.8 Neutral -1.2 16.4 23.9
  British Pound 31.5 27.9 31.5 27.5 20.8 26.9 Neutral +6.1 18.6 42.5
  Canadian Dollar 32.0 28.7 34.1 37.3 38.5 32.8 Neutral -5.7 26.0 38.5
  China Yuan 52.9 53.6 49.5 44.9 48.4 46.8 Neutral -1.6 29.9 53.6
  Japanese Yen 29.0 34.8 32.9 37.0 42.5 40.4 Overbought -2.1 21.3 42.5
  Mexican Peso 10.6 13.2 15.0 11.5 13.7 13.3 Neutral -0.4 10.0 17.7
  New Zealand Dollar 25.5 28.6 28.9 28.9 26.7 24.8 Oversold -2.0 24.4 38.9
  Russian Rouble 8.9 13.5 11.5 11.5 18.2 15.7 Neutral -2.5 8.1 18.5
  S. African Rand 11.5 10.1 13.9 11.2 15.2 16.7 Neutral +1.6 8.8 21.9
  Swiss Franc 27.5 23.8 24.5 26.0 27.4 24.4 Neutral -3.0 19.4 38.7




(PLEASE NOTE) Our next Futures Report will be released on November 2nd, 2005.

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