Personal Finance

Marc (BROKER) · Guest

By Marc Nemenoff
800-935-6496
mnemenoff@alaron.com

Financials: Bonds were not able to hold onto yesterday's gains and
are currently trading at 112'15 just below my recommended stop and
right at our entry level. As much as I would emotionally like to stay
long, discipline dictates that we exit this trade and stand aside and
await new technical developments.

Grains: Nov. Beans traded up yesterday closing 4 ¾ higher just above
5.89. Resistance is still in the 6.00 range and I feel we need to see a
close above this level for a push to the 6.20 level. The long term
trend remains down, however, short term trends are up and charts
indicate a bottom may have been made as long as prices hold above the
5.62 to 5.66 level. Go long on breaks below 5.78 and use sell stops at
5.61 for protection. Dec. Corn closed at 2.01 ¾ keeping us long, but
just barely. Continue to use sell stops at 2.01 for protection. Hold
long calls in both Dec. Corn and Nov. Beans.

Cattle: Dec. Cattle had quite a volatile day. We entered the market
from the short side and once again we were stopped out for a 30-50
point loss as the market went through our stop, rallied an additional
160 points before reversing and closing 42 pts. higher, but below our
stop price. The action still appears top heavy to me but I will stand
aside for a day.

Silver: Dec. Silver broke to support yesterday and we went long in the
7.68 area and will use a sell stop at 7.60 for protection. Many market
pundits are extremely bullish this market and mention the names of some
prominent brokerage houses that have taken delivery of huge amounts of
silver in the past few months. It is also mentioned that less silver is
mined than is currently needed for industrial needs. Personally I feel
that the long term trend is up on this market but that the 8.00 level
needs to be penetrated before I can get overly excited. I also keep in
mind that this market has doubled in price since 2002 far exceeding
inflation. Keeping this in mind I am also cognizant that many people
think of silver as a safe haven in volatile times. If you feel that
silver will once again be a store of value and hedge against inflation
consider the 8.00-9.00 March call spread

S&P's: Yesterday we sold the market at 1183 and were stopped out late
in the session at 1191. I am now putting resistance back to 1202 and
will once again trade from the short side on rallies to the 1202-1208
level and go long on breaks to the 1183 area. I will risk 6.00 pts. on
these trades.

Regards,
Marc

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