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: Sept. Bonds are currently 13 higher at 134’20 and the 10 Yr. Notes 5.5 higher at 126’15.5. We remain on he sidelines at current prices and will be a seller in the 136’15 area.
Grains: Dec. Corn is currently 2’2 lower at 524’6, Nov. Beans 3’6 lower at 1287’0 and Dec. Wheat 3’0 higher at 699’4. Yesterday I was stopped out of a long position in Dec. Corn when the initial reaction to the Grain Report dropped the price to the 510’0 level. If you remain long I recommend using a protective sell stop at 514’0 or take profits. I look for resistance in the 535’0-540’0 area.
Cattle: Aug LC are currently 5 lower at 121.87. Aug. FC are currently 32 lower at 149.80 and the Oct. contract 30 lower at 153.87. If you remain short Oct. FC either take profits or lower your protective buy stop to the 155.60 level. If the market trades below the 153.30 level, either take profits or lower your stop to the 154.90 level.
Silver: Sept. Silver is currently 20 cents lower at 19.75 and Aug. Gold 6.00 lower at 1274.00. Trends remain down. I am on the sidelines at current levels and will be looking to the long side of Silver below 18.75 and Gold below 1215.00.
S&P’s: Sept. S&P’s are currently 1.50 lower at 1668.50. Most indices made a new high close yesterday, but not interday highs. I am on the sidelines favoring the short side on rallies. Support is currently 1651.00 and resistance 1683.00.
Currencies: As of this writing the Sept. Euro is currently 74 lower at 1.3027, the Swiss 48 lower 1.0525, the Yen 50 lower at 1.0048 and the Pound 110 lower at 1.5075. The Sept. Dollar Index is currently 40 higher at 83.31. Yesterday the market traded below the 82.80 level interday and we lowered our protective buy stop (against a short position) to the 83.35 level and have since been stopped out with a profit.
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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