Be out of September Currencies today

Top Day Rec

09.11.09

Already it’s the eighth anniversary. Some memories refuse to fade away.

Overnight, the equity market inches higher in front of the U of Michigan consumer sentiment which should be the big data point of the day. Apparently, Harvard and Yale are using similar investment strategies.

Currencies come off Monday morning. Be out of Sept currencies today.

     

Sep 08	15:00	Consumer Credit	Jul		-8.5B	-4.0B	-10.3B
Sep 09	10:30	Crude Inventories	09/04		NA	NA	-372K
Sep 09	14:00	Fed's Beige Book
Sep 10	08:30	Initial Claims	09/05		-565K	560K	570K
Sep 10	08:30	Continuing Claims	09/29		6150K	6200K	6234K
Sep 10	08:30	Trade Balance	Jul		-25.5B	-27.4B	-27.0B
Sep 11	08:30	Export Prices ex-ag.	Aug		NA	NA	0.2%
Sep 11	08:30	Import Prices ex-oil	Aug		NA	NA	-0.2%
Sep 11	09:55	Mich Sentiment-Prel	Sep		69.0	67.8	65.7
Sep 11	10:00	Wholesale Inventories	Jul		-1.4%	-1.0%	-1.7%
Sep 11	14:00	Treasury Budget	Aug		-168.0B	-162.0B	-111.9B

 

 

Current views, speculations and suggestions

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

 

Be out of Sept currencies today

 

Sept Yen: pos and above daily res of 109.92. Support is 108.92  

Sept Swiss: positive with support at 95.70    

Sept EC: positive with support at 145.20  

Sept Canadian: pos with support at 92.10

Sept BP:  pos with support at 165.56        

Dec ES: pos with support at 1017

Dec NQ: pos with support at 1651  

Dec Mini Dow: pos with support at 9400

Dec Gold: pos with support at 987.00

Dec Silver: pos with support at 15.85  

Dec Copper: potential reversal day (down) even with better readings on Chinese stocks

Oct Crude: neg with res at 72.60      

Nov Soybeans: neg with res at 9.32

Dec Wheat: neg with res at 4.63

Dec Ten Year:  pos with support at 117.04   

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

International Markets

Dec Bund: pos with support at 120.29

Dec Dax:  pos with support at 5551

NKD:  neg with res at 10425

***********  

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.

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

    

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.