Financials: June Bonds are currently 10 lower at 138'00 and the 10 Yr. Notes 3 lower at 129'16. Durable goods were up 2.2% this morning vs. expectations of up 3.0%, a bit disappointing. I still want to trade these markets with a negative bias on rallies to the 138'16 area. You may ask what do I mean by a negative bias: Either short futures, short calls and/or call spreads, long puts and/or put spreads, long 10 Yr. Note/short Bond spreads, etc. Grains: Yesterday May Corn closed 7'0 lower at 630'6, May Beans 9'6 lower at 1396'6 and May Wheat 19'6 lower at 639'6. Over night Corn traded 2'0 higher, Beans 6'0 higher and Wheat 4'4 higher. For the moment May Corn is trading in the low 630's support level, that being said, keep in mind Friday mornings Grain Stocks and Planting Intention reports which could have a dramaticeffect on prices either positive or negative. We remain short the July Corn 600'0/700'0 strangle and will take profits on this trade this morning. I prefer to be out of the market going into Friday morning's reports. Cattle: Yesterday Apr. LC closed 105 higher at 125.60 and May FC 135 higher at 155.07. Over night these markets are moderately lower. I continue to prefer the sidelines at the moment. My bias remains negative, but I need a substantial rally from current levels to entertain the thought of reinstating short positions. Silver: May Silver is currently 34 cents lower at 32.28 and June Gold (time to roll Apr. positions into June) is trading 12.00 lower at 1675.00. I am on the sidelines. S&P's: June S&P's are currently 1.00 lower at 1405.75. We remain short in the money call spreads for Apr. expiration. In order to make money on these spreads the market needs to be below the 1375.00 level by mid Apr. Yesterday the market made an inter-day high of 1419.75. I think this could be the high for a while and will be a seller on rallies with protective buy stops above this high. Currencies: As of this writing the June Euro is trading 20 lower at 1.3321, the Swiss 23 lower at 1.1050, the Yen unchanged at 1.2046 and the Pound 75 lower at 1.5878. I am currently on the sidelines with my downside objective having been met. I will be looking to reinstate short biased positions on both the Ero and the yen at a future date. Regards, Marc 888.908.4310 | 312.264.4310 mnemenoff@pricegroup.com