Marc Nemenoff
PRICE Futures Group
Financials: Dec. Bonds are currently 8 lower at 158’05, 10 Yr. Notes 3 lower at 128’25 and 5 Yr. Notes 2 lower at 120’17. We remain spread long June 2016/short June 2017 Eurodollars. We are also now spread long 5 Yr./short 10 Yr. Notes.
Grains: Dec. Corn is currently 2’6 higher at 383’4, Nov. Beans 4’6 higher at 910’0 and Dec. Wheat 5’6 higher at 500’4. I am currently on the sidelines and will admit to a bullish bias but have not acted on it, awaiting a break to go long.
Cattle: Dec. LC closed steady at 143.17 and Nov. FC about 100 lower at 191.60. We remain short the Dec. LC 135/145 strangle. We have also initiated a short LOCZ position in the 142.25 area. If the market trades below the 141.40 level either take profits or use a protective buy stop at your break even level.
Silver: Dec. Silver is currently 6 cents higher at 15.77 and Dec. Gold fractionally higher at 1167.00. We remain long. I recommend taking partial profits if you have multiple positions in the 16.20 area in Silver and the 1190 area in Gold.
S&P's: Dec. S&P’s are currently 8.00 higher at 2016.50. Continue to treat as a trading affair between 2003.00 and 2026.00.
Currencies: As of this writing the Dec. Euro is currently 17 lower at 1.1329, the Yen 10 higher at 0.83510 and the Pound 46 higher at 1.5463. The market awaits ECB’s Mario Draghi’s comments on the latest stimulus. Questions being asked: Will they extend stimulus past Sept. 2016 or will the monthly amount be increased? Also on the table, so to speak, is renewed conversation as to whether England should remain in the ECU. To be honest I have no real opinion or information on the subject. Our only position at this time is long Yen, either take profits or continue to use a protective sell stop at 0.83170.
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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