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The Nemenoff Report 11/14/19

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Financials: Dec. Bonds are currently 0’21 higher at 158’09, 10 Yr. Notes 0’08.0 higher at 129.004.5 and the 5 Yr. Note 0’04.25 higher at 117’18.00.Not much to report on this week other than Bond’s found some short-term support at 155’08. Resistance is still the 159’28-160’08 area. The market is still vulnerable to large swings on news of trade concessions, the Pres. calling for negative rates by the Fed. I don’t believe this will happen. After 11 straight years of growth it would be normal to have a slowdown. We are not talking about a recession, just a slow down in the rate of employment. It would surprise me if there is another rate cut any time soon, barring a black swan event. That being said: I still have a negative bias and will be a seller at resistance.

Grains: Dec. Corn is currently1’2 higher at 376’4, Jan. Beans2’6 lower vat  912’4b and Dec. Wheat 0’2 lower at 509’2. Last weeks’ Crop Production Report showed more Corn than expected. Yields expected at 167 bushels per acre down 9.4 bpa from last year. Acreage was pegged at 81.8 million acres, up slightly from a year ago. To be honest those numbers make me a little friendly at the right price. I will be a buyer of Dec. Corn under 365’o.

Cattle: Live and Feeder Cattle may have put in a top given yesterdays’ zsharply lower to limit down action. *I think they just ran out of buyers WE have to watch open interest numbers for confirmation over the next few sessions. I am still “nursing” a losing short LCZ position waiting to cover below 117.00

Silver: Dec. Silver is currently 9 cents higher at 17.01but down 54 cents from last week. I remain long.

S&P’s: Dec. S&P’s are 5.00 lower at 3090.25. Market traded above 3100.00 this week making a new record high. Momentum suggests new highs. Treat as a trading affair between 3063.00 and 3113.00.

Currencies: As of this writing the Dec. Euro 0.00095 at 1.10145, the Yen up 0.00110 at 0.02185. the Pound0.0001 lower at 1.2851 and the Dollar Index 0.035 at 98.265. Will be a buyer in the Euro and/or Pound on a sharp break.



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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

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