Enron Mail

From:weekend@ino.com
To:mike.grigsby@enron.com
Subject:Trader, Buy the Rumor, Sell the Fact
Cc:
Bcc:
Date:Sat, 29 Dec 2001 09:01:55 -0800 (PST)

W E E K L Y F I N A N C I A L U P D A T E
INO.com - Trusted by Traders the World Over
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- Saturday, December 29, 2001
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<1< WEEKLY MARKET WRAP
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<1< Weekly Market Wrap
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Dear Trader:

A classic example of 'buy the rumor, sell the fact' was seen
Friday when Crude Oil futures sold off on confirmation of OPEC
production cuts. Natural Gas, boosted by winter chills, was
the only energy market to close on the upside. Sentiment in
Grains and Oilseeds was influenced by a decline in Soybeans,
affected by South American weather patterns, the Argentina
crisis and the Pakistan-India tensions. A bumper Brazilian
crop kept the lid on Coffee, a late surge in Cocoa ran out
of steam, Cotton ended lower on weak US consumption data,
while Sugar rebounded on short-covering. A drop in lease
rates took Silver down, Gold went nowhere, while Copper took
a late hit. Cattle was firm and Bellies pumped up.
Equities got a boost from improving consumer sentiment,
while in Foreign Exchange the Yen staged a rally.

- Alex McCallum, Editorial Director & Forum Moderator

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DISCLAIMER - CFTC RULE 4.41 - HYPOTHETICAL OR
SIMULATED PERFORMANCE RESULTS HAVE CERTAIN
LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD,
SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING.
ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE
RESULTS MAY HAVE UNDER- OR-OVER COMPENSATED FOR THE
IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS
LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN
GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE
DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR
IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO
THOSE SHOWN.

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