Marc Nemenoff
PRICE Futures Group
Financials: Dec. Bonds are currently 1 lower at 137’25 settling back from a recent high of 138’07 earlier this morning on the release of 2nd quarter GDP which came in at 4.6%, slightly better than expectations of 4.2%. We remain spread long June 2017/short June 2015 Eurodollar futures, currently trading at 203 premium the June 2015 contract. Take profits below 198 premium the June 2015.
Grains: Dec. Corn is currently 1’0 lower at 325’0, Nov. Beans 8’2 lower at 914’4 and Dec. Wheat 4’2 lower at 469’6. Trends remain as these markets search for a reason to find support. Beans make new lows despite positive export news. I’m on the sidelines.
Cattle: Oct. LC are currently 30 higher at 155.75 and Oct. FC slightly blower at 230.00. We have taken profits on the long Jan/short Nov. FC spread below the 590 premium Nov. level (currently at 570 premium Nov.)
Silver: Dec. Silver is currently 7 cents higher at 17.52 and Dec. Gold 2.00 lower at 1220.00. We remain long Silver. If you bought Gold yesterday morning either take the short term profit or raise your sellstop from 1202.00 to 1213.00.
S&P's: Dec. S&P’s are currently unchanged at 1961.50. If you remain short either take profits or lower your stop from 1994.00 to 1972.25. The first level of support is the 1954-1958.00 area.
Currencies: As of this writing the Dec. Euro is currently 30 lower at 1.2725, the Swiss 30 lower at 1.0539, the Yen 48 lower at 0.9159 and the Pound 21 lower at 1.6279. We are on the sidelines at the moment.
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The Price Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this website is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
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Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
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