Marc Nemenoff
PRICE Futures Group
Financials: Sept. Bonds are currently 8 higher at 156’31, 10 Yr. Notes 4.5 higher at 127’05 ande 5 Yr. Notes 2 higher at 119’17. Sept. Bunds are 5 higher at 153.76. This morning’s estimate for the Monthly Employment Report is an increase of 225,000 in non-farm payrolls. Given Wednesday’s disappointing ADP private jobs report which showed an increase in payrolls of 185K vs. pre-report estimate of 225K I would not be surprised to see a smaller number. If you went short the Bunds above 154.00 level either take profits or use a close stop. We continue to hold short biased positions in the U.S. treasuries favoring either the long 5 YR./short 10 Yr. spread or the the long 5-5 Yr./short 3-10 Yr. Notes ratio spread.
Grains: Dec. Corn is currently 1’0 higher at 381’2, Nov. Beans 5’2 higher at 948’2 and Dec. Wheat 3’0 higher at 514’2. We remain long Dec. Corn with a protective sell stop in the 371’0 area. We are also long the Nov. Bean 1200’0 calls and will hold these positions through the Crop Production Report on Aug. 12th.
Cattle: I am currently on the sidelines awaiting an opportunity to re-establish a short position in Dec. LC above 151.00 and Sept. FC above 214.00. I remain negative to these markets but will patiently wait for my price levels for market entry.
Silver: Sept. Silver is currently 7 cents higher at 14.75 and Dec. Golod 2.00 higther at 1092.00. These markets are finally starting to show a bit of support, we remain long Silver.
S&P's: Sept. S&P’s are currently 3.75 lower at 2075.50. We continue to hold a combination of short futures and short the Aug. S&P 2080 put originally sold at 32.00. We will cover this position when the put has can intrinsic premium value of 5.00, This put currently trading at 23.00 has excess premium of 18.00. Premium should crater over the next 2 weeks as we near expiration on Aug. 21st. I am a seller above the 2089.00 level. Support is currently 2056.00.
Currencies: As of this weriting the Sept. Euro is currently 17 higher at 1.0943, the Pound 4 lower at 1.5509 and the Yen 10 lower at 0.8025. en 10 lower at 0.8025. I am on the sidelines at current levels. I will be a buyer in the Euro below 1.0600 and a seller above 1.1150. I am interested in the long side of the Pound below the 1.5400 level.
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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