Financials: Bonds are currently 6 higher at 115'16, the 10 Yr. Notes 5 higher at 115'03, the 5 Yr. Notes 3 higher at 114'05 and the 2 Yr. Notes 2 higher at 107'31. Dec. Eurodollars are 3 higher at 99.23. We remain short the Dec. Eurodollars which are presently at a loss. I remain on the sidelines in the Bonds. Near term support for Sept. Bonds is currently 114'20 and near term resistance 117'06.
Grains: On Friday Nov. Beans were 8 cents higher, Dec. Corn 13 lower and Dec. Wheat 11 lower. Over night Beans were fractionally lower, Corn fractionally lower and Wheat fractionally lower. Over the weekend the Midwest did get some precipitation and hot weather as expected. I do not believe the limited amount of rain was enough to push Corn prices significantly lower. We remain long out of the money calls and/or call spreads in Dec. Corn. We are also long Dec. Corn futures with a protective sell stop at 317'0.
Cattle: On Friday Live Cattle were 22 lower to 65 higher with the Oct. contract closing unchanged at 89.12. I remain on the sidelines after being stopped out of a recent long position.
Silver: Sept. Silver is currently 30 cents lower at 14.36. My recommended sell stop at 14.39 for long positions from below the 13.80 level has been penetrated. I will be looking to reinstate a long position below the 14.20 level. Near term support is the 13.80 to 14.20 area.
S&P's: Sept. S&P's are currently 3.50 lower at 1003.25. I remain on the sidelines. Support remains at 984.00 and resistance at 1008.00.
Currencies: As of this writing the Sept. Euro is 9 higher at 1.4180, the Swiss 7 higher at .9243, the Yen 43 higher at 1.0293 and the Pound 78 lower at 1.6588. We remain long out of the money puts and/or put spreads in the Yen. As mentioned Friday my near term objective of 1.0300 has been reached. Roll your position into lower strike prices. I still like the short side of the Pound. If you went short last week either take the short term profit or use a protective buy stop in the 1.6850-1.6900 area. The Sept. Dollar Index is currently I lower at 79.090. Support for the Dollar Index remains in the 78.000 area.