Financials: Sept. Bonds are currently 3 lower at 120'19, the 10 Yr. Notes 3 lower, the 5 Yr. Notes 1 lower and the 2 Yr. Notes about 1 lower. Dec. Eurodollars are 5 lower at 99.200. We remain short the Dec. Eurodollars. If you went short Sept. Bonds for a short term trade at resistance of 120'24 use a protective buy stop or take profits below 120'10. Support is currently at 119'04.
Grains: On Friday Nov. Beans were 1 cent higher, Corn 2 lower and Wheat 2 lower. Over night Beans were 8 lower, Corn 3 lower and Wheat fractionally higher. I am still looking to be a seller in out of the money Nov. Beans puts on a sharp break in the futures with a strike price of 800'0 or lower. I will be looking to risk $600 on this trade. I am also looking at the long side of Dec. Wheat on any further breaks.
Cattle: On Friday Live Cattle closed slightly lower with the Aug. contract closing at 83.47 and the Oct. at 88.65. I am currently on the sidelines.
Silver: Sept. Silver is currently 8 cents lower at 12.55. The next major level of support is the 11.75-12.00 area. I will be a buyer if the market trades below the 12.00 level.
S&P's: Sept. S&P's are currently 5.75 higher at 880.00. If you went long within the 868.00-872.00 support levels on Friday either take the short term profit or use a protective sell stop at 874.00. This week there will be continued quarterly earnings reports as well as PPI and Retail Sales. Near term resistance is currently the 887.00 level.
Currencies: As of this writing the Sept. Euro is currently 12 higher at 1.3963, the Swiss 13 lower, the Yen 14 lower and the Pound 71 lower at 1.6118. We are currently on the sidelines. I will, however, be looking at any further rallies in the Yen as an opportunity to buy out of the money puts and /or put spreads in the Yen. The Sept. Dollar index is currently 39 higher at 80.440.