Financials: Dec. Bonds are currently 11 lower at 163’31, 10 Yr. Notes 5 lower at 130’00.5, 5 Yr. Notes 3 lower at 120’27.5 and June Eurodollars 1 lower at 98.95. I remain on the sidelines awaiting an opportunity to go short Eurodollars above 99.040.
Grains: Dec. Corn is 0’6 higher at 349’0, Jan Beans 2’2 lower at 1000’0 and Dec. Wheat 1’0 higher at 403’4. We have taken profits in Wheat as this market traded through the recommended protective sell stop of 413’0. I will once again try the long side of Dec. Wheat in the 397’0 area.
Cattle: Live and Feeder cattle rallied sharply as a result of Friday’s Cattle on Feed Report which placements 5% below expectations. We remain long and recommend either taking profits or using a sell stop in Dec. LC at 103.300. I have to admit that the risk reward on this latest position has been a “bit out of whack†having sat through a nearly $2,000b loss to make $4-500.
Silver: Dec. Silver is currently 14 cents higher at 17.74 and Dec. Gold 6.00 higher at 1270.00. We remain long Silver.
S&P’s: Dec. S&(‘s are currently 2.00 higher at 2146.00. Treat as a trading affair between 2124.00 and 2154.00. Apple earnings this afternoon after 3:00pm.
Currencies: As of this writing the Dec. Euro is currently 4 lower at 1.0897, the Yen 30 lower at 0.9582, the Pound 10 lower at 1.2226 and the Dollar Index 5 higher at 98.805. I am currently on the sidelines, but, will try the long side of the Euro should it drop below 1.0780.
