About The Author

Linda Cobbins

Financials: Mar. Bonds are currently 0’05 higher at 161’09, 10 Year Notes 0’01 higher at 130’18.5 and 5 Yr. Notes 0”00.25 lower at 119’21.00. Quite a week with plenty of volatility as the Bond market ranged between 160’15 and 164’05. Given all the news (Coronavirus, Trump impeachment exercise, friendly State of the Union speech, Equities at all time highs, Energies crashing, etc.) this rise in volatility should come as no surprise. Support remains at 159’15 and resistance at 165’10.

Grains: Mar. Corn is currently 1’2 lower at 379’4, Beans 2’4 higher at 882’4 and Wheat 4’2 lower at 557’2. These markets continue to sell off on rallies. However, being a closet contrarian, I’m still waiting for a sharp break to play the long side of Corn.

Cattle: Live and Feeder Cattle fell sharply over the last week pushing Apr.LC below 120.00 and Apr. FC below 138.00, levels not seen since September. I want to be a buyer on any further breaks.

Silver: Mar. Silver is 18 cents higher at 17.77, down approx. 22 cents for the week. I remain long.

S&P’s: Mar. S&P’s are 8.75 higher at 3343.50. This market is once again in new upside unchartered ground. Earnings, Trump easing of tariffs by China, and the chance of a vaccine for Coronavirus all have contributed to the 100.00+ rally over the last week. I feel we are at least 12 months away from a viable vaccine and that next earning’s season will reflect the current global slowdown due to the virus. Think out of the money puts and/or put spreads.

Currencies: As of this writing the Mar. Euro is 3.5 higher at 1.10255, the Yen 5.5 lower at 0.91180, the Pound 32 lower at 1.2970 and the Dollar Index 0.8 lower at 98.150. I still favor the Euro and Pound and a seller in the D.I.

Regards,
Marc