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Cattle Meets Objective. The Nemenoff Report 11/30/17


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Financials: March Bonds are currently 7 lower at 151’31, 10 Yr. Notes 3.5 lower at 124’11.5 and 5 Yr. Notes 2.5 lower at 116’17.5. These markets have dropped a bit in the last few sessions as the vote on impending tax reform comes due. Comments from the Fed also have weighed on treasuries as interpretation of these comments indicate a December rate hike and 3-4 rate hikes in 2018 as the Fed looks to trim it’s balance sheet. After having been on the sidelines for a couple of weeks, I am looking to sell the 10 Yr. on a rally above the 125’04 level.

Grains: Mar. Corn is currently 1’2 lower at 352’2, Jan Beans 2’2 lower at 990’2 and Mar. Wheat 5’4 lower at 411’0. I remain on the sidelines, however, I will be a buyer in Mar. Corn below 346’0.

Cattle: During the last 2 weeks Feb. LC fulfilled my objective of trading below 123.00 (see Report 11/16/2017) giving us reason to cover all short positions. I will once again return to the short side of this market should it rally to the 128-130.00 level.

Silver: Mar. Silver is currently 4 cents lower at 16.52, 53 cents below my last Report on Nov. 16th. I continue to hold a small long position.

S&P’s: Dec. S&P’s are currently 7.50 higher at 2632.50. I took as much heat as I could handle having been short a combination of the Dec. 2400 put and short futures, liquidating the positions at 2599.00. Loss of $2200.00.

Currencies: As of this writing the Dec. Euro is currently 12 lower at 1.1862, the Yen 43 lower at 0.8908, the Pound 43 higher at 1.3475 and the Dollar Index 13 higher at 93.235. If you remain short the Dollar Index either take profits or lower your stop to 93.455. not suitable for all investors and involves substantial risks.

 

Questions? Ask Marc Nemenoff today at 312-264-4310

View The Nemenoff Report Archiveswww.pricegroup.com

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About the author


Mr. Nemenoff is a 37-year veteran of the futures industry. While attending graduate school at the Illinois Institute of Technology, Marc began his career as a clerk on the trading floor of the Chicago Mercantile Exchange.

Marc Nemenoff quickly found that his background in both math and problem solving techniques were adaptable to the futures markets as well as the career he had been pursuing in Architecture and Urban Planning. Having decided on a career change he quickly rose within the Tabor Grain Co. organization and became their analyst and operations manager for all products traded on the Chicago Mercantile Exchange.

In 1976 Mr. Nemenoff's responsibilities increased when he was granted full membership on the Chicago Mercantile Exchange as Tabor Grain Co's. representative to the exchange. He was their head analyst and liaison to all branch offices. In addition, he was in charge of designing hedging strategies in both the livestock and financial sectors of the market and writing the firms daily and weekly market letters.

In 1980 Mr. Nemenoff purchased his own membership on the CME and spent the next 12 years as an independent trader, trading in all markets with a concentration in live cattle as a spreader and market maker. As a member of the exchange he served on many committees including, Live Cattle, Nominating, Contributions, Public Relations & Advertising, and Orientation & Education. During this time he gave speeches to various groups at the behest of the exchange. These included: Agricultural Bankers, The National Cattleman's Assoc., various groups on the Role of the Market Maker, and various groups on the Role of Futures as a Risk Management Tool.

In 1991 Marc left the floor and spent his time as an independent trader and lecturer giving speeches at seminars on various topics. These included Livestock Trading, Interest Rate Futures, Spreads, Technical Analysis, and trading in the pit vs. being an outside speculator. He also taught classes as a guest lecturer at the Chicago Mercantile Exchange on Spreading, Technical Analysis, and Commodity Options.

Since 2004 Marc has been an Associated Person handling customer accounts for both speculators and hedgers. Marc is also the author of The Nemenoff Report, a daily overview of the markets adding his own perspective on market direction. Since 2002 Marc has been a Board member of Art Encounter, an Evanston, IL. non- profit organization, specializing in the visual arts and providing community outreach programs, such as art classes for people of all ages with special needs. Marc has been President of Art Encounter since 2009.

Mr. Nemenoff describes his approach to the market as 75% technical and 25% fundamental. He is also a firm believer in the use of option strategies as a way of using leverage and minimizing risk when one has a long-term market strategy.

Contact Marc Nemenoff: (800) 769-7021 or at mnemenoff@pricegroup.com

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