Financials: Jun. Bonds are currently 14 lower at 140'03 and the 10 Yr. Notes 7 lower at 130'17. Yields are about 3.15% on the 30 Yr. and 2.04 on the 10 Yr. Note. Continue to treat the Jun. Bonds as a trading affair between 139'00 and 144'00.Grains: Yesterday May. Corn closed 14'4 higher at 659'4, May Beans 3'2 lower at 1334'4 and May Wheat 8'2 higher at 651'2. Over night Corn traded 3'0 higher, Beans 11'4 higher and Wheat 4'4 higher. Of note: Wheat is once again trading discount to Corn. If you remain long May Corn, take profits or raise your protective sell stop to the 658'0 level. We remain short the July Corn 600'0/700'0 strangle with the intention of taking profits below the 36'0 level.Cattle: Yesterday Apr. LC closed 72 higher at 126.75 and May FC 47 higher at 157.62. Over night these markets are about 30 higher. Yesterday the Feeder Cattle may have made a reversal, rallying nearly 175 points off the interday lows. If you remain short May FC either take profits or use a close stop.Silver: May Silver is currently 13 cents lower at 33.27 and Apr. Gold 14.00 lower at 1685.00. Support remains in the 32.00 area in Silver and the 1630.00 area in Gold.S&P's: Jun. S&P's are currently 5.00 higher at 1372.00. Yesterday we tried the short side of the market only to be stopped out overnight when new contract highs were made above 1371.25. We also sold the Apr. S&P 1340/1360 call spread and plan on keeping this position at this time.Currencies: As of this writing the June Euro is trading 73 lower at 1.3083, the Swiss 65 lower at 1.0852, the Yen 67 lower at 1.2100 and the Pound 35 higher at 1.5655. I am presently on the sidelines awaitng a rally to reinstate short biased positions.Regards, Marc888.908.4310 |