Marc Nemenoff gives his readers an insight into the decision making process of a professional trader and analyst with 35+ years of market experience. He covers the markets with which he has had the best success throughout his career with. Contact Mr. Nemenoff at (312) 264-4310
Financials: June Bonds are currently 10 lower at 143’06 and the 10 Yr. Notes 5 lower at 131’13.5. If you went long on yesterday mornings break either take the short term profit or raise your protective sell stop to your break even level.
Grains: May Corn is currently 2’2 lower at 731’0, May Beans fractionally higher at 1437’4, May Wheat 1’2 higher at 728’4 and Dec. Wheat 1’2 higher at 748’6. We remain long out fo the money call spreads in Dec. Wheat. As for speculative futures position, We are heading for the sidelines until Thurday’s Prospective Planting Report at 11:00am Chicago time.
Cattle: Apr. LC are currently 12 higher at 126.57 and Apr. FC 15 lower at 148.02. Yesterday the market discounted Friday’s constructive Cattle on Feed Report giving up the early gains in response to the Report. I still feel that the “Report” was friendly and will be a buyer on breaks in either June or August LC with protective sell stops175 points below current prices.
Silver: May Silver is currently 2 cents lower at 28.80 and June Gold 7.00 dollars lower at 1599.50. If you went long Gold yesterday in the 1595.00 area and remain long either take the short term profit or raise your protective sell stop to the 1588.00 area. Resistance is currently the 1613.00 level.
S&P’s: June S&P’s are currently 3.00 higher at 1550.00. Continue to treat as a trading affair between 1536.00 and 1557.00.
Currencies: As of this writing the June Euro is trading 2 higher at 1.2874, the Swiss 1 lower at 1.0550, the Yen 27 lower at 1.0614 and the Pound 24 lower at 1.5152. The June Dollar Index is currently is currently 3 higher at 83.025. Yesterday we were stopped out of any remaining short Dollar Index positions at our break even level. We are currently on the sidelines.
Questions? Ask Marc Nemenoff today at 312-264-4310
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The information presented is from sources believed to be reliable and all information is subject to change without notice.
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