Overnight, Abu Dhabi provides 10 billion to forestall a default by Nakheel PJSC

Top Day Rec

12.14.09

No data today. Overnight, Abu Dhabi provides 10 billion to forestall a default by Nakheel PJSC. This seeded the idea that contagion from this problem will be contained and this was a positive for stocks.

Finally the winds die down. You know it’s windy when as you cross lower Broadway half of your red eye Hazelnut latte gets sucked out of the sip hole before you can make it to the other side of the street.

  

This Week's Calendar

Date	ET	Release	For	Actual	Briefing.com	Consensus	Prior
Dec 15	08:30	Core PPI	Nov		0.1%	0.2%	-0.6%
Dec 15	08:30	PPI	Nov		0.6%	0.8%	0.3%
Dec 15	08:30	Empire Manufacturing	Dec		21.00	24.00	23.51
Dec 15	09:00	Net Long-term TIC Flows	Oct		$38.7B	$42.3B	$40.7B
Dec 15	09:15	Capacity Utilization	Nov		71.4%	71.1%	70.7%
Dec 15	09:15	Industrial Production	Nov		0.7%	0.5%	0.1%
Dec 16	08:30	Building Permits	Nov		560K	570K	552K
Dec 16	08:30	Housing Starts	Nov		545K	578K	529K
Dec 16	08:30	CPI	Nov		0.3%	0.4%	0.2%
Dec 16	08:30	Core CPI	Nov		0.0%	0.1%	0.3%
Dec 16	10:30	Crude Inventories	12/11		NA	NA	-3.82M
Dec 16	14:15	FOMC Rate Decision	Dec 16		0.25%	0.25%	0.25%
Dec 17	8:30	Initial Claims	12/12		450K	465K	474K
Dec 17	08:30	Continuing Claims	12/5		5250K	5170K	5157K
Dec17	10:00	Leading Indicators	Nov		0.6%	0.7%	0.3%
Dec 17	10:00	Philadelphia Fed	Dec		17.5	16.0	16.7

 

 

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 1098.00

Mar NQ: pos with support at 1780.00   

Mar Mini Dow: pos with support at 1032   

Feb Gold: neg with res at 1138

Mar Silver: neg with res at 17.52      

Mar Copper: neg with res at 317  

Mar Yen: potential reversal day        

Mar Swiss: neg with res at 97.50         

Mar EC: neg with res at 147.30  

Mar Canadian: neg with res at 95.07       

Mar BP:  neg with res at 163.10    

Mar Aussie: neg with res at 90.90     

Feb Crude: neg with res at 72.80        

Jan Soybeans: neg with res at 10.44    

Mar Wheat: potential reversal day        

Mar Ten Year:  neg with res at 118.13  

Mar 30 Year : neg with res at 118.13

June Eurodollar: potential reversal day

 

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International Markets

Mar Bund: potential reversal day   

Mar Dax: potential reversal day

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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.

 


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