Financials: Mar. Bonds are currently 5 higher at 142'27 and the 10 Yr. Note 1 higher at 131'07. As mentioned over the last few days, I feel this market is rangebound at the moment between 140'00 and 145'00. Until this range is broken through on either the downside or the upside, I am on the sidelines.

Grains: This morning Mar. Beans traded 1'0 higher at 1277'6. Mar. Corn 3'2 lower at 636'2 and Mar. Wheat 5'6 lower at 636'0. Keep in mind that Mar. options expire today. On Monday I will be quoting May contracts. Next week we will also be looking at both the May and July Corn 600/700 strangle (selling both the out of the money call and put).

Cattle: Yesterday Mar. FC closed 80 lower at 157.65 and Apr. LC 142 lower at 129.67 generating yet anoth signal and possible weekly key reversal. If you remain short, I would hold the position. Cattle on Feed Report this afternoon at 2:00pm (Chicago time).

Silver: Mar. Silver is currently 21 cents lower at 35.34 and Apr. Gold 10.00 lower at 1776.00. If you remain bullish, consider out of the money call spreads. Be on the lookout for increased volatility. Starting Monday we will be quoting the May contract in Silver.

S&P's: Mar. S&P's are currently 1.50 higher at 1364.50. I am on the sidelines for the day.

Currencies: As of this writing the Mar. Euro is 80 higher at 1.3416, the Swiss 87 higher at 1.1149, the Yen 89 lower at 1.2400 and the Pound 124 higher at 1.5836. Consider the June Yen 1.20/1.16 put spread at about 40 points ($500) now that we have taken profits on Mar. Yen put positions. Also, I must admit that I am baffled by the strength in Euro against the Dollar and will once again try the short side of the market with a 40 point buy stop.

Regards, Marc 888.908.4310 | 312.264.4310 mnemenoff@pricegroup.com