Financials: Mar. Bonds are currently 18 lower at 142'07 and the 10 Yr. Notes 10 lower at 131'03. Sunday the Greek government passed the latest austerity program allowing them to qualify for yet another ECB bailout which will enable them to roll over their debt especially that which comes due in March. Needless to say this did not go over well with the populace which demonstrated (rioted?) in the streets of Athens. Personally, I don't think the problem of Greek debt is anywhere near over, but I'm not willing to fight the tape. For the moment I will treat the Bonds as a trading affair between 140'16 and 145'00. I am also willing to once again do the long 5 Yr. Note/ short 10 Yr. Note spread at 8'03 premium the 10 Yr. Note (currently 7'19) if the market allows. Grains: Over night Mar. Beans were 1'4 higher at 1229'0, Mar. Corn 5'0 higher at 636'0 and Mar. Wheat 8'6 higher at 638'6. A weak Dollar due to passage of Greek austerity programs has helped rally the Grains overnight from recent lows. I am still on the sidelines awaity a break to the low 620's in Mar. corn before re-entering the market from the long side. Of note: the Mar. Corn/ Mar. Wheat spread is once again trading near even money. Cattle: On Friday Mar. Fc closed 152 lower at 153.62 and Apr. LC 140 lower at 126.80 due to concerns over consumer demand and continued packer margins in the red. We remain short and will enter protective buy stops 240 points above the market. If Apr. LC should close below 126.50 lower your buy stop to the 128.25 level or take profits. The early call is slightly lower. Silver: Mar. Silver is currently 17 cents higher at 33.77 and Apr. Gold 1.00 higher at 1726.00. I am not impreseed with this mornings slight rally and feel there could be more downside. Support for Silver is currently 32.60 and Gold 1690.00. S&P's: Mar. S&P's are currently 9.00 higher at 1349.50. Market euphoria over the passage of Greek austerity programs has put the market back to Thurday's levels. To be honest I'm skeptical of the rally potential from current levels and prefer the short side of the market. Support is currently 1330.00 with resistance at 1352.00. Currencies: As of this writing the Mar. Euro is currently 69 higher at 1.3240, the Swiss 52 higher at 1.0955, the Yen 6 lower at 1.2886 and the Pound 62 higher at 1.5797. We remain long out of the money puts in the Euro and Yen. I will be a seller in the Euro between the 1.33-1.3400 levels. As mentioned elsewhere in this Report, I do not believe the Greek situation has been put to rest. Regards, Marc 888.908.4310 | 312.264.4310 mnemenoff@pricegroup.com