Today is rollover day in December stock index futures

Top Day Rec

12.10.09

Today is rollover day in December stock index futures. March is now the front month. Also, December currencies will come off the board on Monday morning (first thing) so we now will be tracking the March futures. Be out of Dec currencies Friday as it’s too easy to forget about the Monday morning expiration.

Yesterday was notable for the fresh eight week low in crude as the Department of Energy report showed builds in both the gas and heating oil components.

Weekly unemployment claims came in at 474K.

Overnight, central banks are considering withdrawing stimulus packages and the Yen fell back to reflect this. Even Dubai was up 7% last night.  

 

Dec 07	15:00	Consumer Credit	Oct		-$11.6B	-$9.3B	-$14.8B
Dec 09	10:00	Wholesale Inventories	Oct		-0.8%	-0.5%	-0.9%
Dec 09	10:30	Crude Inventories	12/04		NA	NA	2.09M
Dec 10	08:30	Initial Claims	12/05		450K	465K	457K
Dec 10	08:30	Continuing Claims	12/04		5475K	5435K	5465K
Dec 10	08:30	Trade Balance	Oct		-$35.0B	-$37.0B	-$36.5B
Dec 10	14:00	Treasury Budget	Nov		-$135.0B	-$134.1B	-$176.4B
Dec 11	08:30	Export Prices ex-ag.	Nov		NA	NA	0.3%
Dec 11	08:30	Import Prices ex-oil	Nov		NA	NA	0.4%
Dec 11	08:30	Retail Sales	Nov		1.0%	0.7%	1.4%
Dec 11	08:30	Retail Sales ex-auto	Nov		0.2%	0.4%	0.2%
Dec 11	09:55	Mich Sentiment-Prel	Dec		69.7	68.5	67.4
Dec 11	10:00	Business Inventories	Oct		-0.2%	-0.3%	-0.4%

Current views, speculations and suggestions

(good till close of business today). These are technical in nature only, not fundamental.

 

Mar ES: pos with support at 1083.50

Mar NQ: pos with support at 1768.00   

Mar Mini Dow: pos with support at 1019.00   

Feb Gold: potential reversal day

Mar Silver: neg with res at 17.68 and 18.18      

Mar Copper: potential reversal day  

Mar Yen: pos with support at 113.06       

Mar Swiss: neg with res at 97.85         

Mar EC: neg with res at 147.70  

Mar Canadian: neg with res at 95.39      

Mar BP:  neg with res at 163.40    

Mar Aussie: neg with res at 90.72     

Jan Crude: neg with res at 72.98        

Jan Soybeans: potential reversal day    

Mar Wheat: neg with res at 5.42       

Mar Ten Year:  neg with rest at 118.29  

Mar 30 Year : neg with res at 119.28

June Eurodollar: pos with support at  99.39

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International Markets

Mar Bund: pos with support at 122.98  

Mar Dax: neg with res at 5773

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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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