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Bonds: Sept - Long 6/2 at 113^23. Exited 6/3 at Target of 115^02. Cattle: August - Short 6/2 at 100.90. Stop is 101.20. Target is 98.90. Canadian $: June - Short 6/2 at 1.0044. Exited 6/4 at Target of .9900. New Trades Bean Oil: July - Sell Short on a Stop at 60.10. Stop is 61.60. Silver: July - Sell Short on a Stop at 1660.5. Stop is 1700.00. WEEKLY MARKET OBSERVATIONS: Bullish set ups: Wheat really stands out this week as being bullish along with Sugar, the Energies, Bonds and Cocoa. Bearish set ups: The Meat Complex definitely set up for a decline, (small specs have become excessively bullish) while the Canadian and Australian dollar are showing a good deal of Commercial short selling and a way too bullish small spec position. This is negative. Lots of people are looking to buy Gold and Silver. I think the best entry is still in the future.
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