Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

Commitments Of Traders Report: 12/17/02

Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the
Chicago Mercantile Exchange and Chicago Board of Trade. COT data
can be found at www.cftc.gov.

Small specs are the general trading public with commercials being
financial institutions. Commercials are historically on the
correct side of future trend changes while small specs tend
to be wrong.

S&P 500

Commercials added significantly to both long and short positions,
however added 7,000 more short contracts. Small traders took a
similar approach in adding to both sides, but came out decidedly
longer, by about 13,000 contracts.

Commercials Long Short Net % Of OI
11/26/02 447,024 488,250 (41,226) (4.4%)
12/03/02 444,345 487,411 (43,066) (4.6%)
12/10/02 446,831 503,583 (56,752) (5.9%)
12/17/02 465,361 528,896 (63,535) (6.4%)

Most bearish reading of the year: (111,956) - 3/6/02
Most bullish reading of the year: ( 16,472) - 10/01/02

Small Traders Long Short Net % of OI
11/26/02 155,975 81,962 74,013 31.1%
12/03/02 162,192 82,584 79,608 32.5%
12/10/02 162,115 71,505 90,610 38.8%
12/17/02 194,740 90,803 103,937 36.4%

Most bearish reading of the year: 36,513 - 5/01/01
Most bullish reading of the year: 114,510 - 3/26/02

NASDAQ-100

Commercials reduced the net short position by about 5,000
contracts, while small traders left positions relatively
unchanged, with a net reduction in the long position of about
800 contracts.


Commercials Long Short Net % of OI
11/26/02 43,231 52,425 ( 9,194) ( 9.6%)
12/03/02 43,709 51,977 ( 8,268) ( 8.6%)
12/10/02 44,651 51,716 ( 7,065) ( 7.3%)
12/17/02 51,999 54,383 ( 2,384) ( 2.2%)

Most bearish reading of the year: (15,521) - 3/13/02
Most bullish reading of the year: 9,068 - 06/11/02

Small Traders Long Short Net % of OI
11/26/02 17,574 12,329 5,245 17.5%
12/03/02 13,749 9,869 3,880 16.4%
12/10/02 15,026 9,242 5,784 23.8%
12/17/02 23,027 18,027 5,000 12.2%

Most bearish reading of the year: (10,769) - 06/11/02
Most bullish reading of the year: 8,460 - 3/13/02

DOW JONES INDUSTRIAL

Commercials added to both sides of the position in approximately
equal numbers, while small traders cut down on the short position
by about 400 contracts.


Commercials Long Short Net % of OI
11/26/02 20,499 15,015 5,484 15.4%
12/03/02 20,176 15,427 4,749 13.3%
12/10/02 19,953 15,759 4,194 11.7%
12/17/02 23,782 20,605 3,177 7.2%

Most bearish reading of the year: (8,322) - 1/16/01
Most bullish reading of the year: 15,135 - 10/16/01

Small Traders Long Short Net % of OI
11/26/02 6,544 10,350 (3,806) (22.5%)
12/03/02 5,885 9,781 (3,896) (24.9%)
12/10/02 5,394 9,499 (4,105) (27.6%)
12/17/02 5,498 9,045 (3,547) (24.4%)

Most bearish reading of the year: (8,777) - 10/12/01
Most bullish reading of the year: 1,909 - 1/16/01