Weekly jobless claims come in a bit more than forecast but below 500k

Weekly jobless claims come in a bit more than forecast but below 500k

Top Day Rec

12.17.09

Weekly jobless claims come in at -7K to 480K. A bit more than forecast

but below 500K. Continuing claims 5.2 million.

Leading Eco Indicators and Philly Fed at 10.

Overnight, FedEx warns of a miss on earnings. FedEx is often seen as

emblematic of general business activity.

Maybe more importantly, the market turned its focus on Greek and

Spanish debt woes and this affected the EC against the dollar and this

took gold lower by $18. New recent low for EC. See chart below:

Of course the Fed left rates unchanged and changed little in the

communiqué.

This Week's Calendar

Date ET Release For Actual Briefing.com Consensus Prior

Dec 15 08:30Core 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 1784.00

Mar Mini Dow: pos with support at 1031

Feb Gold: neg with res at 1139.0

Mar Silver: pos with support at 17.16

Mar Copper: neg with res at 318.50

Mar Yen: potential reversal day

Mar Swiss: neg with res at 96.30

Mar EC: neg with res at 145.33

Mar Canadian: neg with res at 94.20

Mar BP: neg with res at 163.00

Mar Aussie: neg with res at 89.24

Feb Crude: pos with support at 73.00

Mar Soybeans: pos with support at 10.49

Mar Wheat: pos with support at 5.20

Mar Ten Year: neg with res at 117.28

Mar 30 Year : neg with res at 118.17

June Eurodollar: neg with res at 99.42

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

International Markets

Mar Bund: pos with support at 122.62

Mar Dax: neg with res at 5956

**********

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.

Please feel free to visit www.vfmarkets.com. For those

without accts use 999999 and 1293 as a pin for access. (pin

changes monthly)

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

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.

*The risk of loss exists in futures and commodity investing. Past performance is not indicative of future results or performance. Only risk capital should be used when making investments in the commodity markets.

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