Marc
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 Posted:
Wed Oct 12, 2005 4:01 pm Post subject:
Trading Recomendations For Wednesday 10/12/2005 |
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Trading Recommendations
For the Trading day of Wednesday, October 12, 2005
By Marc Nemenoff
800-935-6496
mnemenoff@alaron.com
Financials: The bond market is slightly lower this morning coming close
to short term support of 113'08-113'18. Weakness in the stock
market could stem losses in the bond market in a flight to quality. I
am wary of selling into a lower market as the market holds above
113'00 and will cover any short positions on breaks into the stated
support level.
Grains: Corn and beans could be higher this morning. This mornings
report showed corn production at 10.857 billion bushels vs. pre-report
estimates of 10.862 and soybean production at 2.967 billion bushels vs.
estimates of 3.006. We remain long out of the money calls in corn and
beans and long Dec. Corn with stops at 2.01.
Cattle: Dec. Cattle once again rallied to 91.65 failing to make a new
contract high above 91.85 and closed virtually unchanged at 91.37. I
remain short and continue to use buy stop close only orders at 91.85
Silver: Dec. Silver continues to move higher trading above 7.90 this
morning. If you are still long raise sell stops to 7.72. If you are
long any in the money calls, roll your position into a higher strike
price.
S&P's: Dec. S&P's broke into the lower range of support yesterday and
are 3.00 lower this morning at 1185.00, below the lows made in July.
Technically we could be setting up for another leg down with longer
term support not coming in until the 1150.00 area. Go short on any
5.00+ rallies and use buy stops above 1208 for protection.
THERE WILL BE NO MARKET REPORT ON THURSDAY
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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