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 4 higher at 152’29, 10 Yr. Notes 1.5 higher at 125’18 and the 5 Yr. Note 0.5 lower at 117’27.5. Testimony by Fed Chairwoman Yellen yesterday indicated that the Fed would take a moderate to soft path when it comes to raising rates and trimming the Fed’s balance sheet by selling off a percentage of its massive inventory of Bonds and Notes. Concern was also mentioned that inflation target of 2.0% was not being met. The result was a rally across the board in the interest rate sector off of recent lows made after last week’s higher than expected non-farm payrolls. I am currently on the sidelines awaiting a further rally to re-enter the market from the short side believing that rates are ultimately headed higher. I will be a seller in Bonds above 154’18, 10 Yr. notes above 126’18 and the 5 Yr. above 118’10.
Grains: Dec. Corn is currently 4’0 lower at 394’6, Nov. Beans 19’4 lower at 1014’2 and Dec. Wheat 6’4 lower at 516’0. Yesterday’s supply/demand report showed stockpiles higher than expected for corn and Wheat and below expectations for Beans. Estimated Crop Production and yields per acre where also above expectations. If you did not take profits on long Dec. Corn positions continue to use a protective sell stop at 388’0.
Cattle: Yesterday Feeder and Live Cattle closed up the daily limit in response to negative price in action feed grains after the release of a negative Grain Report. We have been on the sidelines for the last week, but feel these markets can head a bit higher before running into resistance 2.50-3.00 points above the market. I will be a seller in Aug. and/or Oct. LC above 121.00. I am also looking to do the long Feb./short Oct. Cattle spread at 50 points premium the Oct.
Silver: Sept. Silver is currently 2 cents lower at 15.87. During the last week I tried the long side only to be once again stopped out with a 20 cent loss. I am currently on the sidelines.
S&P’s: Sept. S&P’s are currently 3.00 higher at 2443.00. We remain short from the 2426.00-2434.00 area with a protective buy stop in the 2453.00 area. If the market trades below 2419.00 either take profits or lower your stop to 2441.00.
Currencies: As of this writing the Sept. Euro is currently 10 lower at 1.14430, the Yen unchanged at 0.88540, the Pound 56 higher at 1.2970 and the Dollar Index 3 lower at 95.480. We remain short the Euro with a protective buy stop at 1.1550.
Questions? Ask Marc Nemenoff today at 312-264-4310
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Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses.
The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks. ©2017
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Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone.
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