Marc Nemenoff
PRICE Futures Group
Financials: Sept. Bonds are currently 4 lower at 139’09, 10 Yr. Notes 1 lower at 125’28.5 and 5 Yr. Notes unchanged at 119’19. We remain spread long 10 Yr./short Bonds with about at 32 point loss ($1,000.00). By Friday this spread should move one way or another after the weekly jobless claims report, business inventories, PPI, etc. giving us a reason to either stay or bail.
Grains: Dec. Corn is currently 2’0 lower at 366’2, Nov. Beans 4’0 lower at 1069’2 and Dec. Wheat 5’4 lower at 557’2. I will be a small buyer in Dec. Corn below 345’0 for a short term break if the Crop Report should have a negative iniatial impact on the market. As I have stated in previous “Reports”, watch the 1050’0-1055’0 level in Nov. Beans. Cattle: I am currently on the sidelines.
Silver: Sept. Silver is currently 2 cents higher at 20.12 and Dec. Gold 4.50 higher at 1315.00. We remain long Silver. If you added to the position on last weeks break, either take profits on the additional contracts or raise your protective sell stop to the 19.87 level. If the market should trade above 20.20 raise your stop to 20.06.
S&P's: Sept. S&P’s are currently fractionally higher at 1933.00 after trading as high as 1938.75. Yesterday we went short with a protective buy stop in the 1944.00 area. If the market should trade below the 1926.00 either take profits or lower your stop to the 1937.00 area.
Currencies: As of this writing the Sept. Euro is currently 30 lower at 1.3354, the Swiss 29 lower at 1.1004, the Yen unchanged at 0.9788 and the Pound 3 lower at 1.6778. We remain short the Euro with a protective buy stop at 1.3504. If the Euro trades below the 1.3330 level, lower your stop by 50 points.
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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