Markets rather calm on Bernanke's re-nomination

Top Day Rec

08.25.09

In addition to Case Schiller and real estate activity, the big number of the day will be Consumer Confidence.

Ben Bernanke is re-nominated as Fed head. Markets seem range bound as Summer winds down.

Aug 25

09:00

S&P/Case-Shiller Home Price Index

Jun

-17.0%

-16.40%

-17.06%

Aug 25

10:00

Consumer Confidence

Aug

48.0

46.6

Aug 26

08:30

Durable Orders

Jul

2.8%

3.2%

-2.5%

Aug 26

08:30

Durables, Ex Transportation

Jul

0.4%

1.0%

1.1%

Aug 26

10:00

New Home Sales

Jul

308K

390K

384K

Aug 26

10:30

Crude Inventories

08/21

-8.40M

Aug 27

08:30

Initial Claims

08/22

550K

565K

576K

Aug 27

08:30

Q2 GDP - Prelim

-1.6%

-1.4%

-1.0%

Aug 27

08:30

GDP Deflator

0.2%

Aug 27

08:30

Core PCE

2.0%

Aug 28

08:30

Personal Income

Jul

-0.1%

0.1%

-1.3%

Aug 28

08:30

Personal Spending

Jul

0.3%

0.2%

0.4%

Aug 28

08:30

PCE Core

Jul

0.1%

0.2%

Aug 28

09:55

Mich Sentiment-Rev

Aug

64.8

63.2

Current views, speculations and suggestions

(good till close of business today). These are technical in nature only.

Sept Yen: neg with res at 106.45

Sept Swiss: positive with support at 94.00

Sept EC: positive with support at 142.60

Sept Canadian: pos with support of 92.38

Sept BP: neg with res at 164.90

Sept ES: pos with support at 1018.00

Sept NQ: pos with support at 1625.00

Sept Mini Dow: pos with support at 9452

Dec Gold: neg with res at 956.50

Sept Silver: neg with res at 14.40

Sept Copper: pos with support at 283.40

Oct Crude: res at 74.90

Nov Soybeans: potential reversal day

Dec Wheat: neg with res at 5.04

Sept Ten Year: pos with support at 117.08

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International Markets

Sept Bund: pos with support at 121.72

Sept Dax: pos with support at 5472

NKD: support 10382

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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. Some find it appropriate to look at the margin requirement and use that as a stop or if it’s a steep initial requirement, use half.

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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

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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.