More than 130 companies are reporting earnings this week

Top Day Rec

10.19.09

Sorry for the delay. A Monday morning computer glitch. No eco numbers today. More than 130 companies are scheduled to report earnings this week and the prospect of positive news has the indices higher this morning.  The dollar is weaker, rates lower and crude flat. The Fed is starting to dry run repo operations to eventually drain liquidity.   

 

Oct 20	08:30	Building Permits	Sep		580K	590K	579K
Oct 20	08:30	Housing Starts	Sep		585K	610K	598K
Oct 20	08:30	PPI	Sep		0.0%	0.0%	1.7%
Oct 20	08:30	Core PPI	Sep		0.0%	0.1%	0.2%
Oct 21	10:30	Crude Inventories	10/16		NA	NA	0.33M
Oct 21	14:00	Fed's Beige Book
Oct 22	08:30	Initial Claims	10/17		525K	517K	514K
Oct 22	08:30	Continuing Claims	10/10		5950K	5990K	5992K
Oct 22	10:00	Leading Indicators	Sep		1.0%	0.9%	0.6%
Oct 22	10:00	FHFA Housing Price Index	AUG		0.3%	0.3%	0.3%
Oct 23	10:00	Existing Home Sales	Sep		5.45M	5.35M	5.10M

 

 

 

Current views, speculations and suggestions

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

 

Dec Yen: potential reversal day      

Dec Swiss: potential reversal day      

Dec EC: potential reversal day

Dec Canadian: ditto

Dec BP:  pos with support at 162.66   

Dec ES: pos with support at 1075

Dec NQ: pos with support 1719     

Dec Mini Dow: pos with support 9870

Dec Gold: pos with support at 1037

Dec Silver: pos with support at 17.22     

Dec Copper: pos with support at 281.00  

Dec Crude: pos with support at 77.90       

Jan Soybeans: potential reversal day  

Dec Wheat: potential reversal day  

Dec Ten Year:  neg with res at 118.19   

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International Markets

Dec Bund: pos but below daily support of 121.15  

Dec Dax:  potential reversal day  

Dec NKD pos with support at 101.50  

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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.

 

Charles Kespert

 

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