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To: ms.smartest.person who wrote (894)	3/29/2006 7:23:13 PM
From: ms.smartest.person	Respond to of 3198

Futures Fourth Time for 3/30 SHORT DAY TRADES: CLK LONG DAY TRADES: COFK MARKETS EXPECTED TO CLOSE HIGHER TODAY: COFK MARKETS EXPECTED TO CLOSE LOWER TODAY: CRB, CLK, SMK CATTLE: April will be the third month of decline so LCM cannot be far from a significant recovery. There is no point in trying to play for that until we can identify a change in trend. PORK: An early rally effort fizzled quickly and June Hogs decided to keep it's head below the declining ten day average. Thursday is a swing day. BOT: May Corn closed better than expected, but it is not a very strong picture. It trades below the fifty day average and even though it got above it, the ten day average is still declining. A small spurt in the last five minutes allowed May Soybeans to escape the expected lower close. It is more of a nuisance than a telling signal. If anything, it creates another small bias toward a lower close on Thursday. In a similar vein, the small gain in May Soybean Meal creates a negative three down "but" daily cycle for Thursday. This will be a swing day for May Wheat. METAL: May Silver is seven up on Thursday. That argues for a lower close, but there can be no percentage in playing the short side in the face of such a strong market. April Gold is nearly back to old resistance around 579, but the daily chart still looks strong. The bull trend continues in Copper as it enters a swing day on Thursday. N. Y.: May Crude Oil are at a new rally high. It may seem a bit cheeky to consider selling, but Thursday is three and seven up so consider a day trade on the short side of CLK. May Cocoa has a neutral to friendly pattern, but offers no specific indication for Thursday. May Coffee has very bullish monthly timing coming up in April, so I'm inclined to bite on Thursday's seven down daily cycle. Consider a day trade on the long side of COFK. May Cotton seems to be working hard to keep a rally going, but it remains below the declining ten day average. No specific indication for Thursday. The holding action in May Sugar is another sign of strength. FINANCIAL: As we suspected, friendly timing on Wednesday did not carry much weight in June Bonds. In general terms, we have to look at 30 to 40 tick rallies as a selling situation. IMM: JYM closed higher as expected, but the overall tone and pattern remains bearish. Mixed impressions for the group on Thursday. CRB: The Index is hard against the fifty percent resistance of 331.50 and Thursday is the seventh day of advance. Plan for a lower close. INDEX: SPM rallied back to touch the ten day average and that generates a negative seven down "but" daily cycle for Thursday. Because this rally day was so vigorous, new lows are unlikely and that means a lower close will create a friendly three up "but" daily cycle for Friday. The pattern, timing, and attitude are the same for DJIA. This is a swing day for the NASDAQ so here too, a lower close will be a bullish development.

To: ms.smartest.person who wrote (894)	3/31/2006 9:19:21 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

&#8362 David Pescod's Late Edition March 30, 2006 GOLD $586.70 +13.40 SILVER $ 11.61 +0.545 BRAZMIN CORP. (T-BZM) $ 2.40 +0.02 There’s little doubt what the story of the day is today— it’s commodity markets. Gold is flirting with 25-year highs and silver is flirting with 23-year highs. Silver seems to be carrying precious metals these days as the advent of the Barclay’s ETF (exchange-traded funds) and how much silver that will take out of the market, seems to be one of the stories of the day. Also, with continuing problems in Iran, a sudden drop in the American dollar, gold has another huge move as well lifting the precious metals sector in a big way. Fund buying is part of it, hedge fund buying is also affecting it and there are even reports that average folks in some places in the world might be picking up a little precious metals for the first time in decades as well. But it’s not just precious metals that are moving, also copper and base metals are going, sometimes for different reasons. All of a sudden the mainstream press is picking up what may be an impending problem in Peru where a presidential election may elect an Ultra-Nationalist who might just shake up a very strong mining community and change rules dramatically. Also, it is estimated that as much as 17% to 20% of some of the base metal mines in the world, maybe facing a strike over the next while and while in some places like Chile, striking is more of a sport than an economic issue. These things could affect supply. Meanwhile, copper prices go through the roof as well. Some stocks to note, one of our favorite silver stories is currently in registration, so we can’t talk about it, but Impact Silver continues to fair well. Its very high grades on its Royal Mines of Zacualpan project in Mexico continues to attract attention. There are not that many silver plays out there and almost none of them are cheap, but Impact Silver looks like it’s going to have lots to talk about in the next while. In the gold sector, BrazMin has done surprisingly well over the last four months, almost doubling, despite that fact that it has done nothing. As we’ve mentioned before, it’s the monsoon season in the Amazon and Brazil and that means nothing gets done. Now we are within days of work starting and what has some analysts looking very excitedly at the company is the thought that maybe they don’t have one or two, but potentially three projects that could each become economic in their time. Definitely, a story to be watching. For a research report, contact Sandra Wicks at sandra_ wicks@canaccord.com. In the base metals sector, we still continue to think that the promotionally challenged Western Keltic Mines (WKM) is a cheap story that covers the base and precious metals and the price is just right and finally it looks like it’s going the right way. FALCON OIL & GAS (V-FO) $2.95 -0.01 The only thing that has changed with Falcon Oil and Gas over the last two weeks since we first wrote about it, is the price. It’s almost doubled and it now sports a market capitalization of almost $1.2 billion. We have called it scary before, it’s scarier now considering that this company with this huge price tag has no cash flow, no revenue and hasn’t even completed one well yet. We hope by now you have read the interview we had with Allan Laird and have a little better understanding of the play, but the hope remains that they may have the cure for Europe’s dwindling supplies of natural gas. You are going to be hearing a lot more about basin centered gas plays and this may be one of them. Laird tells us that it’s still June that they expect those final tests on the deep wells to occur and they will be significantly important. Needless to say, should these wells not work out….. Disclosure: BrazMin Corp : Canaccord Capital covers this stock and has a Speculative Buy rating on it. (Speculative buy: Stocks bear significantly higher risk that typically cannot be valued by normal fundamental criteria. Investments in the stock may result in material loss.) Canaccord has recently led a financing for BrazMin Corp. If you would like to receive the Late Edition, just e-mail Debbie at debbie_lewis@canaccord.com