Financials: Dec. Bonds are currently 14 lower 120'02, the 10 Yr. Notes 8 lower at 117'24, the 5 Yr. Notes 4 lower at 115'24 and the 2 Yr. Notes unchanged at 108'14. We continue to hold the combination of short the Dec. Bonds and short the Dec. Bond 116'00 put.
Grains: On Friday Nov. Beans were 23 lower, Dec. Corn 4 higher and Dec. Wheat 8 higher. Over night Beans were 8 cents lower, Corn 4 lower and Wheat 8 lower. We continue to hold out of the money calls and/or call spreads in the Dec. Corn. We are also long Dec. Wheat.
Cattle: On Friday Oct. Cattle closed unchanged at 87.22. If you remain long either take profits in the 87.35 area or continue to use a protective sell stop at 86.35.
Silver: Dec. Silver is currently 10 cents lower at 16.61. We remain long.
S&P's: Dec. S&P's are currently 3.00 lower at 1034.25. I continue to recommend being long out of the money puts as both a speculative position and as portfolio insurance.
Currencies: As of this writing the Dec. Euro is 21 higher at 1.4613, the Swiss 15 higher at .9666, the Yen 31 lower at 1.1017 and the Pound 98 lower at 1.6591. If continue to hold out of the money Dec. put spreads in the Yen with the short end of the spread with a strike price of 1.000 or lower, cover the short end of the spread at the market. The original recommendation was for the long 1.0300 put/ short the 1.0000 put spread. For the moment we continue to hold out of the money puts and/or put spreads in the Dec. Pound. The Dec. Dollar Index is currently 25 higher at 76.140.