Financials: June Bonds are currently 3 lower at 136'11 and 10 Yr. Notes 6 lower at 128'13. This market is still showing some support in the 136'00 area. Resistance remains in the 138'16 area. Ever since the former support level of 139'00 was penetrated last week the market has not shown much recovery. If the market should rally above the 138'00 level I recommend the short side of the market with either futures, short out of the money calls or long out of the money putsGrains: Over night May Corn traded 5'2 lower at 667'6, May Beans 5'2 lower at 1368'6 and May Wheat 7'4 lower at 664'4. We remain short the July Corn 600'0/700'0 strangle.Cattle: Apr. LC is currently 35 higher at 125.65 and May Feeder Cattle 10 lower at 155.80. My downside objectives have been met at the moment putting me on the sidelines.Silver: May Silver is currently 5 cents lower at 32.55 and Apr. Gold 1.00 higher at 1657.00. If you went long Silver in the 32.00 area or Apr. Gold in the 1630's, I recommend either taking profits or using a close protective sell stop.S&P's: June S&P's are currently 1.00 higher at 1399.00. Apple Computer is poised to announce a dividend based on their accumulation of 97 billion dollars of cash. I feel this will put a damper on this stocks recent run up and could signal an over all sell off. We remain short in the money call spreads for Apr. expiration.Currencies: As of this writing the Jun. Euro is trading 14 lower at 1.3159, the Swiss 16 lower at 1.0916, the Yen 15 lower at 1.1990 and the Pound 34 higher at 1.5857. I am currently on the sidelines.I will be out of the office Tues. and possibly Wed.Regards, Marc888.908.4310 |