Reversal of Strong Dollar due to Numerous Reports

Top Day Rec

06.16.09

Producer Price Index out at 8:30. Then Industrial Cap and Utilization at 9:15. Overnight, German consumer confidence comes in better than expected to a 3 year high. UK gilt sale well bid. Signs of better interest in British real estate. All of these items helped reverse the strong dollar seen yesterday.

Jun 15	08:30	NY Empire Manufacturing Index	Jun	NA	-5.10	-4.55
Jun 15	09:00	Net Long-Term TIC Flows	Apr	NA	$52.9B	$55.8B
Jun 16	08:30	Housing Starts	May	NA	483K	458K
Jun 16	08:30	Building Permits	May	NA	500K	498K
Jun 16	08:30	PPI	May	NA	0.6%	0.3%
Jun 16	08:30	Core PPI	May	NA	0.1%	0.1%
Jun 16	09:15	Capacity Utilization	May	NA	68.4%	69.1%
Jun 16	09:15	Industrial Production	May	NA	-0.8%	-0.5%
Jun 17	08:30	Core CPI	May	NA	0.1%	0.3%
Jun 17	08:30	CPI	May	NA	-0.9%	-0.7%
Jun 17	08:30	Current Account Balance	Q1	NA	-$85.0B	-$132.8B
Jun 17	10:30	Crude Inventories	06/12	NA	NA	-4.38M
Jun 18	08:30	Initial Claims	06/13	NA	610K	601K
Jun 18	10:00	Leading Indicators	May	NA	0.9%	1.0%
Jun 18	10:00	Philadelphia Fed	Jun	NA	-17.0	-22.6

Current views, speculations and suggestions

(good till close of business today)

Sept Yen: neg but has spent the majority of the overnight session above 103.23

Sept Swiss: pos with support at 91.96

Sept EC: higher close today maintains upward trend.

Sept Canadian: pos with support at 88.54

Sept BP: pos with support at 164.09

Sept ES: pos with support at 910.25

Sept NQ: neg with res at 1479.00

Sept Mini Dow: pos with support at 8570

Aug Gold: needs to close above 928.8 to maintain pos trend.

July Silver: needs to close above 14.05 to maintain pos trend.

July crude: pos with support at 70.85

Nov Soybeans: needs to close above 12.02 to maintain trend.

Sept Wheat: neg with res at 6.13

Sept Ten Year: pos with support at 113.26

**************

International Markets

Sept Bund: pos with support at 118.90

Sept Dax: neg with res at 5015

NKD: neg with res at 10020

***********

N.B.: if you initiate a trade using ANY of these numbers use a STOP at least equivalent to 2 ½%. Repeat: use Stops. Don’t think about using Stops. Use Stops.

********************************************

Futures trading entails considerable risk and is not for everyone. An account can lose more than its initial investment. Stops are not necessarily filled at the stop level. Past performance is not a guarantee of future results.

Charles Kespert

***********************

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, AL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETIOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.