Marc Nemenoff
PRICE Futures Group
Financials: Sept. Bonds are currently 21 lower at 150’09, 10 Yr. Notes 10 lower at 125’28.5 and 5 Yr. Notes 6 lower at 119’03. The German 10 Yr. Bund is 10 higher at 151.88. These markets all traded higher to sharply higher yesterday in response to Greece’s decision to put austerity measures and ECB proposals to a public referendum this coming weekend and go into technical default on IMF loan payments. Add to this Banking controls and closings which is allowing the citizenry to withdraw only 60 Euro’s per day from ATM’s. We are still carrying a combination of short 10 YR. notes/short the Sept. 10 yr. note 124’00 put.
Grains: Acreage and stocks Report at 11:00 this morning. We are on the sidelines having taken profits from long Corn positions.
Cattle: Sept. Feeders closed 200 higher at 217.90 and Oct. LC 125 higher at 152.25. We have taken profits from short biased Feeder Cattle positions and continue to hold short biaed positions in Live Cattle.
Silver: Sept. Silver is currently 2 cents lower at 15.68 and Aug. Gold 7.00 lower at 1172.00. We remain long Silver and are on the sidelines in Gold.
S&P's: Sept. S&P’s are currently 13.00 higher at 2063.50. Yesterday global equities saw sharp declines in the wake of a Greek default. We remain short a combination of short futures and short the Jully 2080 put.
Currencies: Without overstating the obvious the Euro experienced high volatility trading between 1.0975 and 1.1260 during Monday’s session. If you took Fridays recommendation to buy the July 1.10 put the market gave a profit taking opportunity Sunday evening through early Monday morning before turning direction and trading higher for the day. The Euro is currently 70 lower at 1.1195. The July 1.10 put is 18 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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