Financials: Dec. Bonds are currently unchanged at 138'03 and the 10 Yr. Note 2 lower at 128'09. With impending news coming out of Europe (re: the debt crisis) I'm inclined to head for the sidelines at the moment.

Grains: Yesterday beans closed 14 cents higher, Corn 2 higher and Wheat 10 higher. Over night Beans were 4 higher, Corn 5 higher and Wheat 2 higher. We remain long out of the money calls and/or call spreads in Dec. Corn. I have no recommendation for new positions at this time.

Cattle: Yesterday Dec. Live Cattle closed 72 higher at 122.87 and Nov. Feeder Cattle 7 higher at 142.80 inspite of a slightly negative Cattle on Feed Report last Friday. If you remain short continue to use a protective buy stop at your break even level (if it has not already been violated).

Silver: Dec. Silver is currently 8 cents higher at 31.73. If you are long term bullish, consider going long out of the money calls and/or call spreads for March 2012 expiration.

S&P's: Dec. S&P's are currently 2.50 lower at 1244.50. I continue to recommend being short the Dec. 1240 call. Near term support is currently 1228.00 with resistance in the 1254.00 area.

Currencies: As of this writing the Dec. Euro is 56 lower at 1.3884, the Swiss 20 lower at 1.1352, the Yen 17 lower at 1.3141 and the Pound 3 lower at 1.5987. Given the recent run-up in the Euro I'm inclined to play the short, but caution that it can go either way because of impending decisions in Europe that could greatly effect this market. Resistance is currently 1.3960 and support 1.3720. We remain long out of the money puts in the Yen.

Regards,

Marc
888.908.4310 | 312.264.4310
mnemenoff@pricegroup.com