Marc Nemenoff
PRICE Futures Group
Financials: June Bonds are currently 2 higher at 158’30, 10 Yr. Notes 6 higher at 126’31 and 5 Yr. Notes 4 higher at 118’27. I am still on the sidelines and will remain so until Friday’s Employment Report. Short term traders should continue to treat the 10 Yr.
Note as a trading affair between 126’16 and 128’16. Given the recent spate of quantitative easing in Europe and Asia (China, India) if pressed for an opinion I would favor the long side of the market at this time.
Grains: May Corn is currently 1’4 lower at 389’4, May Beans 7’6 lower at 1004’4 and May Wheat 5’4 lower at 500’4. We continue to hold the combination of long the Apr. Corn 375’0/405’0 strangle and short the May Corn 390’0 straddle.
Cattle: Yesterday LC, FC and LH all closed sharply lower. We have taken profits on all long biased future and option positions in Live and Feeder Cattle. We were stopped out of any remaining long June Hog futures positions when the market traded below the 81.80 level. We continue to hold the June Hog 82.00/84.00 call spread.
Silver: May Silver is currently 4 cents lower at 16.26 and Apr. Gold 1.00 higher at 1205.50. We continue to hold a small long position in Silver and will add to it in the 16.10 area. I will be a small buyer in Gold in the 1170-1190.00 area.
S&P's: Mar. S&P’s are currently 6.00 lower at 2098.75. Treat as a trading market between 2086.00 and 2115.00.
Currencies: I am on the sidelines. I feel the Dollar is getting overbought but as yet have no technical confirmation.
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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