Marc (BROKER)
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 Posted:
Tue Oct 18, 2005 4:01 pm Post subject:
Trading Recommendations for Tuesday 10/18/2005 |
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By Marc Nemenoff
800-935-6496
mnemenoff@alaron.com
Financials: Bonds had a tight range yesterday trading as low as
112'14 allowing us to go long below 112'17 either as a net long
position or as a spread against the 10 yr. or 5yr. notes. Use sell
stops at 111'28 for protection. Our short term objective is 113'06
and longer term the 113'22-114'00 level. If the 113'06 level is
reached raise your sell stops to 112'18. Take profits above 113'18
on long positions or on spreads if this level is reached.
Grains: Nov. Beans reached a new post report high of 5.99 before
backing off below 5.90. Hopefully you have either taken profits from
long call positions or rolled them into a higher strike price. Go long
on breaks to the 5.77-5.82 level and use sell stops at 5.66 for
protection. I still remain long Dec. Corn and Dec. Corn 220 calls and
continue to use sell stops at 2.01 to protect the futures position. If
Dec. Corn trades at 2.11 raise your sell stop to 2.06.
Cattle: Dec. Cattle continued to work lower yesterday closing .62 lower
at 88.95. If you are short lower your buy stop to 90.60 for protection.
My short term objective is 88.20, if this level is reached lower your
buy stop to 89.65 or take profits. Longer term my objective is in the
86.50-87.50 range.
Silver: Dec. Silver closed slightly higher yesterday, but chart
patterns are beginning to look toppy for the near term. I believe the
market needs to trade above 8.00 to indicate another leg up to the
8.15-8.20. Use caution on buying into this market and wait for breaks
to the 7.68-7.74 level.
S&P's: Dec. S&P's appear to be range bound between 1179-1202 and I
will treat this market as a trading affair between these levels. I
still remain long term negative and will use rallies to the 1202-1208
level to re-establish short positions.
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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