Marc
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 Posted:
Thu Sep 29, 2005 4:01 pm Post subject:
Trading Recommendations For the Trading day of Thursday, Sep |
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Trading Recommendations For the Trading day of Thursday, September 29,
2005
By Marc Nemenoff
800-935-6496
mnemenoff@alaron.
Financials: Bonds posted gains of 19 points yesterday closing at
115'05. Oil prices once again dominated this market. When crude prices
turned upward so did bonds. The idea is that higher energy prices will
lead to a slower economy. However, being a technician in this market, I
still have to look at this market as being somewhat in a downtrend with
resistance in the 115'20-115'25 area and will sell rallies to the upper
end of this range and use buy stops at 116'12 for protection, support
remains in the 114'00 area. If you are interested in spreads consider
long Dec. 10 yr. notes/ short Dec. Bonds at 5'04 premium the bonds.
Grains: Nov. beans managed to post moderate gains of 5 cents while Dec.
Corn closed unchanged. Long-term support on the beans remains at
5.43-5.48 and I will try the long side on a break below 5.48. We still
remain long Dec. Corn and Dec. 220 calls. Use sell stops at 2.01 for
protection.
Cattle: Cattle finally had a lower close after posted new highs for the
recent up move, but did not trade below the previous days lows which
could have given us a key reversal. I have tried shorting this market
before in the recent past only to be stopped out with minor losses.
Technically I need to see a close below 88.00 to get excited. We remain
long LCV/short FCV.
Silver: Dec. Silver continues to work higher trading as high as 7.47
this morning. Yesterday the market traded above 7.41 and we raised our
sell stops to 7.29. Resistance remains in the 7.50-7.60 area and I
recommend caution at these prices. If the 7.50 area is penetrated raise
sell stops to 7.37.
S&P's: Dec. S&P's continue to be range bound between 1216-1231.
Continue to treat as a trading affair between these levels.
Regards,
Marc
The information and data in this report were obtained from sources
considered reliable. Their accuracy or completeness is not guaranteed
and the giving of the same is not to be deemed as an offer or
solicitation on our part with respect to the sale or purchase of any
securities or commodities. Alaron Trading Corp. its officers,
directors, employees and brokers may in the normal course of business
have positions, which may or may not agree with the opinions expressed
in this report. Any decision to purchase or sell as a result of the
opinions expressed in this report will be the full responsibility of
the person authorizing such transaction.
There is a substantial risk of loss in trading futures and options
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