Financials: Bonds are currently 19 higher at 116'17.5, the 10 Yr. Notes 6 higher, the 5 Yr. Notes 2 higher and the 2 Yr. Notes 1 higher. Dec. Eurodollars are 1 higher at 99.270. We remain short the Dec. Eurodollars. Near term support for Sept. Bonds is currently 115'20 and near term resistance 117'08. I still prefer the long side of the markets on breaks for short term trades. I feel that with lower energy and equity futures this market will continue to find buyers.
Grains: Yesterday Beans were 20 cents higher, Corn 1 higher and Wheat 4 lower. Over night Beans were 9 lower, Corn fractionally lower and Wheat fractionally lower. If you remain long Dec. Corn either take profits or continue to use a protective sell stop at 324'0.
Cattle: Yesterday Live Cattle closed 22-37 higher. Aug. closed at 84.92 and Oct. at 90.57. If you remain long, raise your sell stop on the Aug. contract to 83.60 and on the Oct. contract to 88.75.
Silver: Sept. Silver is currently 17 cents lower at 13.58. I am cautiously bullish and a buyer at current levels.
S&P's: Sept. S&P's are currently 6.00 lower at 970.00. Near term support remains at 959.00 and near term resistance at 982.00. I still prefer the short side of this market on rallies into the mid to high 970's.
Currencies: As of this writing the Sept. Euro is 67 lower at 1.4110, the Swiss 52 lower at 92.58, the Yen 22 lower at 1.0560 and the Pound 4 higher at 1.6440. I continue to recommend being long out of the money puts and/or put spreads in the Yen. I am also a seller in the Pound above the 1.6600 level if the market allows. The Sept. Dollar Index is currently 27 higher at 79.270.