Trading Recommendations For Wednesday

By Marc Nemenoff
08 July 2009 @ 09:50 am EDT

Financials: Bonds are currently 4 higher at 119'17, the 10 Yr. Notes 4 higher, the 5 Yr. Notes 3 higher and the 2 Yr. Notes 1 higher. Dec. Eurodollars are 2 higher at 99.220. Yesterday we were stopped out of our short Bond position in the 119'140 area. With lower equity and commodity prices it appears that inflation is less of a risk and this market will find support at lower prices as well as be a vehicle for a flight to safety if the stock market works lower from present prices. For the time being I am looking at the Bonds as a trading vehicle between 117'280 and 120'240. We remain short Dec. Eurodollars. Long term I feel that interest rates will creep higher and will maintain this position.

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