Financials: Mar. Bonds are currently 17 higher at 144'22 and the 10 Yr. Note 7 higher at 130'30. If you remain short the Mar. Bonds from the 143'18 level continue to use a protective buy stop at 145'07. We continue to hold the long 5 Yr. Note/ short 10 Yr. Note spread which is currently at 7'22 premium the 10 Yr. Note.

Grains: Yesterday Jan. Beans closed 11 cents higher, Mar. Corn 1 lower and Mar. Wheat 1 lower. Over night Beans were 5 higher, Corn 1 higher and Wheat 2 higher. We remain on the sidelines. Long hedgers in Corn such as livestock producers should take note of hedging opportunies due to recent price declines.

Cattle: Yesterday Feb. LC closed 37 higher at 119.15 and Jan FC 22 higher at 143.97. I remain on the sidelines.

Silver: Mar. Silver is currently 20 cents higher at 29.48. Frb. Gold is currently 11.00 higher at 1588.00. Gold has held the 1560.00 support level.

S&P's: Mar. S&P's are currently 6.00 higher at 1218.00. Support is currently 1210.00 and resistance 1228.00. My bias is to the long side of the market on breaks.

Currencies: As of this writing the Mar. Euro is 11 higher at 1.3036, the Swiss 24 higher at 1.0679, the Yen 8 higher at 1.2873 and the Pound 2 higher at 1.5491. We remain long out of the money puts in the Yen and long the Jan.1.200 put in the Euro.

Regards, Marc
888.908.4310 | 312.264.4310
mnemenoff@pricegroup.com