Please  e-mail me with your comments and suggestions. Let me know how I
can refine the Nemenoff Report to better fit your needs. I would also
like to know if this report has been a useful tool for you.

Grains: Grains closed higher Friday, rallying late in the session after
trading lower most of the day. This morning Beans are 14 higher, Corn 8
higher, and Wheat 12 higher. Support has held and resistance will be
broken if last nights rally carries over this morning.
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request to: mnemen...@alaron.com

Financials: Bonds are trading 6 higher this morning at 113'00. On
Friday we were once again stopped out of a short position at 112'21
with a small profit after being short from the 113'08 level. Support
remains at 112'06 and resistance from 113'08-113'14. I still
prefer the short side on rallies to resistance with a protective buy
stop at 114'00. We remain long out of the money puts on the Mar.
contract and spread long 10 Yr. Notes/ short Bonds.

Cattle: Friday we had a Cattle on Feed Report which showed: On Feed at
104% vs. pre-report estimate of 104.9, Placements 87% vs. 91.4, and
marketing's 101% vs. 104.3. I feel this report is constructive
overall given the placement number but I am slightly concerned about
the low placement figure. I would expect the market to show strength in
the deferred contracts. We remain long the nearby futures and I
recommend having protective stops 150 points below the market and take
profits 100-150 points above the market. We also remain spread long
Feb. / short Jun which could take a bit of heat this morning.

Silver: Dec. Silver is trading 15 cents higher this morning at 12.95.
Support remains at 12.60 and resistance at 13.25. If you remain long,
roll your position into Mar. this week.

S&P's: S&P's are trading 300 lower as of this writing in the 1301.50
are. Support remains at 1384 and resistance at 1407. Treat as a trading
market between support and resistance.

Currencies: The Euro is trading about 20 higher this morning at the
1.2855 level. Support remains at 1.2780 and resistance at 1.2880. We
remain long out of the money puts. The Yen is trading 15 lower at
85.05. We have been on the sidelines for some time in this market, but
I am now looking for buying opportunities on breaks below the 83.50
level and at some point I will be looking to be spread long Yen/ short
Euro.

mnemen...@alaron.com 800 935 6496

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considered reliable. Their accuracy or completeness is not guaranteed
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have positions, which may or may not agree with the opinions expressed
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