Marc (BROKER)
Guest
|
 Posted:
Wed Oct 19, 2005 4:01 pm Post subject:
Trading Recommendations For the Trading day of Wednesday, Oc |
|
|
By Marc Nemenoff
800-935-6496
mnemenoff@alaron.com <<mailto:mnemenoff@alaron.com>>
Financials: Dec. Bonds gave us another opportunity to go long under
112'17 or to put on spreads vs. the 10 or 5 year notes, trading as
low as 112'10. Over night the Bonds traded as high as 113'08 our
short term objective. Raise your sell stops to 112'18 or take profits
above 113'17.
Grains: Both Nov. Beans and Dec. Corn backed off yesterday closing 6 ¾
lower on the beans and 1 ¾ lower in corn. Near term support remains in
the 5.77-582 area for Nov. Beans and we will try the long side at the
lower range of support and use sell stops at 5.66 for protection. Dec.
Corn has been flirting with our 2.01 sell stop but has yet to trade at
the price, hitting 2.01 ¼ several times. Continue to use sell stops at
2.01 for protection.
Cattle: Dec. Cattle closed 100 higher yesterday. Last Friday's
breakout to the downside at 90.10 is now resistance. I will once again
try the short side between 90.10-90.25 and use a buy stop at 90.60 for
protection. If you are already short, and the market trades below 89.00
again lower your buy stop to 89.65.
Silver: Dec. Silver is trading 7 cents lower this morning approaching
support in the 7.68-7.74 area. Go long on breaks to these levels and
use a 7.60 sell stop for protection.
S&P's: Over the last 2 sessions Dec. S&P's have just about covered
all of last weeks range between 1176-1196. Last weeks low was 1171.75
and I will be watching to see if this level holds Near term support of
1179 has been penetrated and the market looks poised to go lower.
Longer term support is in the 1150 area and this will be our target if
the 1171 level is penetrated. Go short on rallies above 1183 using buy
stops at 1191 for protection.
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
|
|
FAQ
Memberlist
Register
Profile
Log in to check your private messages
Log in