Financials:

Dec. Bonds are currently 8 higher at 118’27.0 and the 10 Yr. Notes 6 higher at 116’25.0. I am currently on the sidelines but looking to the short side of the market on any further rallies. I will also be looking to once again put on the long 10 Yr. Notes/ short Bonds spread at 2’12 premium the Bonds. The spread is currently at 2’02 premium the Bonds, 10 points away.

Grains:

Yesterday Beans were 47 lower, Corn 7 lower, and Wheat 8 higher. Over night Beans were 2 higher, Corn fractionally lower and Wheat 9 cents higher. At this time I favor the long side of the market on both Dec. Corn and Nov. Beans. Support and resistance for Dec. Corn is currently 553’0 to 590’0. Support and resistance for Nov. Beans is currently is 1230’0 to 1310’0.

Cattle:

Yesterday Live Cattle was 60-90 lower depending on the contract month. Dec. Cattle made a low of 105.30 and triggered my recommended sell stop at 105.40 that was used to protect any recent long positions. I am currently on the sidelines. However, my long term bias remains somewhat friendly.

Silver:

Dec. Silver is currently 15 cents higher at 13.11. Again, for the near term I am favoring the long side of the market between 1260 and 1280 with a 50 cent protective sell stop from entry level,

S&P's:

Sept. S&P’s are currently 8.00 lower 1267.25. I still favor the long side of the market on breaks to the 1264 level, but would not risk more than 7.50 points. Resistance remains in the 1294 area.

Currencies:

As of this writing the Euro is 17 lower, the Swiss 8 lower, the Yen 2 lower and the pound 70 higher at 1.7810. We remain long the pound from the 185.50 level and we are looking for a rally from present level to cut our losses. The Sept. Dollar Index is currently 2 higher at 78.185. We remain on the sidelines.

Dear Reader of the Nemenoff Report

I would like to thank those of you who participated in yesterday’s webinar. I welcome your comments and suggestions.

Regards,

                Marc