Marc Nemenoff
PRICE Futures Group
Financials: Mar. Bonds are currently 4 higher at 144’02, 10 Yr. Notes 2 lower at 127’01 and 5 Yr. Notes 3 lower at 119’03. European inflation numbers were weaker than expected. Yield curve continues to flatten. That being said, I’m a seller above 144’00 for a short term trade with a stop above the early morning high of 144’15.
Grains: Mar. Corn is currently unchanged at 393’6 and Jan. Beans 3’0 lower at 1029’0. My short term downside objective on remaining short positions is 380’0 for Mar. Corn and 1015’0 for Jan. Beans.
Cattle: Feb. LC traded as low as 161.50 yesterday giving the opportunity to cover short positions below 162.00. LCG is currently 17 higher at 193.05. May FC are currently 147 lower at 225.95. Time to start looking for profit taking opportunities on short biased FC positions. The long LCJ?short FCK spread continues to narrow, currently at 62.90. Silver: Mar. Silver is currently 15 cents lower at 17.04 and Feb. Gold 11.00 lower at 1218.00. Treat as a trading affair.
S&P's: Dec. S&P’s are currently 7.00 higher at 2033.50. If you remain short either take profits or lower your protective buy stop to 2041.00.
Currencies: The Mar. Euro is currently 43 lower at 1.2405. If you remain long either take profits or raise your sell stop to 1.2377.
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