Financials: Sept. Bonds are currently 2 lower at 119'22, the 10 Yr. Notes 2 lower at 117'15, the 5 Yr. Notes 2 lower at 115'23 and the 2 Yr. Notes 1 lower at 108'18. We remain short the Sept. Bonds with a protective buy stop at 121'04. If the market trades below 117'28 either take profits or lower your buy stop to the 120'06 level. Near term support remains at 117'27 and longer term support remains at 116'00.
Grains: Yesterday Nov. Beans closed 34 cents higher at 1007'4, Dec. Corn 9 higher at 325'4 and Dec. Wheat 12 higher at 499'2. Over night Beans were 1 lower, Corn 1 lower and Wheat unchanged. If you remain long Nov. Beans either take profits or raise your sell stop to the 977'0 level. If the market trades above the 1012'0 level today, raise your sell stop to the 992'0 level. My near term objectives have been met on the upside. Longer term resistance is the 1040'0 level. We continue to hold out the money calls and/or call spreads in Dec. Corn.
Cattle: Yesterday Oct. Live Cattle closed 20 higher at 88.80. I continue to look at the Cattle as a trading affair between 86.00 and 91.00.
Silver: Sept. Silver is currently 13 cents higher at 14.34. We continue to hold a long position and will add to it if the market breaks below the 13.00 level. If you are long and only in the market for a short term trade take profits on any rallies from current levels. Resistance for the near term is the 14.40-14.60 area.
S&P's: Sept. S&P's are currently 6.00 higher at 1030.50. Near term support is the 1014.00 area and near term resistance the 1038.00 area. I remain on the sidelines.
Currencies: As of this writing the Sept. Euro is 54 higher at 1.4342, the Swiss 38 higher at .9453, the Yen 25 higher at 1.0608 and the Pound unchanged at 1.6395. We continue to hold out of the money put spreads in the Dec. Yen and the Dec. Pound. The Sept. Dollar Index is currently 28 lower at 78.050