Gold is lower on dollar strength and oil weakness

Top Day Rec

09.21.09

Just Leading Economic indicators at 10.

Overnight, the dollar is stronger in front of the release of LEI. Gold is lower on dollar strength and oil weakness. Equities are lower on a closer examination of valuations. China may buy gold from the IMF. British Pound is hitting target areas mentioned last week.

   

Sep 21	10:00	Leading Indicators	Aug		NA	0.7%	0.6%
Sep 22	10:00	FHFA US Housing Price Index	Jul		NA	0.5%	0.5%
Sep 23	10:30	Crude Inventories	09/18		NA	NA	-4.73M
Sep 23	14:15	FOMC Rate Decision	Sep		NA	0.25%	0.25%
Sep 24	08:30	Initial Claims	09/19		NA	NA	NA
Sep 24	08:30	Continuing Claims	09/12		NA	NA	NA
Sep 24	10:00	Existing Home Sales	Aug		NA	5.33M	5.24M
Sep 25	08:30	Durable Orders	Aug		NA	0.1%	5.1%
Sep 25	08:30	Durables, ex Transporation	Aug		NA	0.8%	1.1%
Sep 25	09:55	Mich Sentiment-Rev	Sep		NA	70.0	70.2
Sep 25	10:00	New Home Sales	Aug		NA	440K	433K

 

Current views, speculations and suggestions

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

 

 

Dec Yen: possible reversal day     

Dec Swiss: positive with support at 96.42    

Dec EC: positive with support at 146.05.  

Dec Canadian: pos with support at 92.35

Dec BP:  possible reversal day         

Dec ES: possible reversal day  

Dec NQ: pos with support at 1703.70

Dec Mini Dow: pos with support at 9630

Dec Gold: possible reversal day

Dec Silver: possible reversal day    

Dec Copper: neg with res at 287

Oct Crude: res at 72.40       

Nov Soybeans: neg with res at 9.54

Dec Wheat: neg with res at 4.62

Dec Ten Year:  neg with res at 117.12   

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International Markets

Dec Bund: neg with res at 120.91  

Dec Dax:  potential reversal day

Dec NKD pos with support at 103.56

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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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Charles Kespert

 

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