Marc Nemenoff
PRICE Futures Group
Financials: June Bonds are currently 17 lower at 163’20, 10 Yr. Notes 2 lower at 129’20 and 5 Yr. notes fractionally lower ar 120’23. I’m still hesitant to take a position in either Bonds or 10 Yr. Notes with the German 10 Yr. trading at a yield of 0.07%, only 7 basis points from 0% yield. We do ,however, have a Eurodollar position of long EDU15/short EDM17 initiated at 117 points premium the Sept.2015 contract.
Grains: May Corn is currently fractionally lower at 375’4, May Beans 0’4 higher at 966’4 and May Wheat 1’0 higher at 495’4. I will be a buyer in May Corn below 368’0 if the market presents the opportunity.
Cattle: I remain on the sidelnes in Live and Feeder Cattle. We remain long out of the money calls and/or call spreads in June Hogs.
Silver: May Silver is currently 5 cents higher at 16.38 and June Gold 5.00 higher at 1203.00. If you remain long Gold either take profits or raise your sell stop to the 1191.00 level. It is time to roll May Silver contracts into the July contract..
S&P's: June S&P’s are currently 13.00 lower at 1288.00. China’s decision to disallow trading OTC stocks on margin has had a negative effect on Global Equity markets. We remain short and will lower our protective buy stop from 2108.00 to 2098.25.
Currencies: As of this writing the June Euro is currently 20 lower at 1.0790, the Swiss unchanged at 1.0500, the Yen 21 lower at 0.8398 and the Pound 33 higher at 1.4984. The June Dollar Index is 22 higher at 98.830. Take profits from long Euro and/or short Dollar Index positions.
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