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: Dec. Bonds are currently 10 lower at 153’24, 10 Yr. Notes 5 lower at 124’14 and 5 Yr. Notes 3 lower at 116’11. During the last week the yield curve between the 10 Yr. and 30 Yr. has narrowed to 38 basis points which has been reflected in the futures as the Bonds gained nearly 2’00 points on the 10 Yr. and 5 Yr. Notes. On Friday we have the monthly Unemployment Report which is expected to show a gain of 200,000 non-farm payroll jobs. Next week the FOMC meeting which is expected to produce a 25 basis point bump in rates. I am currently on the sidelines willing to go short should the 10 Yr. trade above 125’04.
Grains: March Corn is currently 0’4 lower at 352’2, Jan. Beans 8’6 lower at 994’0 and Mar. Wheat 0’4 lower at 424’6. I am still patiently awaiting an opportunity to go long Mar. Corn below 346’0.
Cattle: Live and Feeder Cattle continue to slide with the Feeders out pacing the Live Cattle to the downside. That being said I believe we are starting to see some light at the end of the tunnel as the market nears long-term support 3-500 points below the market. I will be a buyer in Feb. LC below 117.75.
Silver: Silver continued its’ slide over the past week dropping another 65 cents to the current price of 15.87. I remain long a small position (mini contracts of 1,000 ounces). I have to ask myself if I would be a buyer at this level if I wasn’t already involved, and the answer, for me, is yes. All things considered, Silver is down only 10 cents for the year (give or take a few cents).
S&P’s: Dec. S&P’s are currently 1.00 higher at 2630.25. I am on the sidelines. Next week I will be quoting the March contract next week.
Currencies: As of this writing the Mar. Euro is currently 6 lower at 1.18660, the Yen 36 lower at 0.89200, the Pound 5 higher at 1.3429 and the Mar. Dollar Index 12 higher at 93.355. We were stopped out of our Dec. position in the 93.45 area. I am now on the sidelines looking to go short the Pound above 1.3620.
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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