Oil futures higher for its biggest weekly gain since October

Oil futures higher for its biggest weekly gain since October

Top Day Rec

12.18.09

No data points today.

Oil is higher and set for its biggest weekly gain since October on the

prospects for better demand. OPEC will maintain current production

levels.

German business confidence increased to its best level since July 08.

The dollar trading at a 3 month high against the EC yesterday took its

toll on Gold which now projects to 1072.

This Week's Calendar

Date ET Release For Actual Briefing.com Consensus Prior

Dec

08:30 Core PPI Nov 0.1% 0.2% -0.6%

Dec

08:30 PPI Nov 0.6% 0.8% 0.3%

Dec

08:30 Empire Manufacturing Dec 21.00 24.00 23.51

Dec

09:00 Net Long-term TIC Flows Oct $38.7B $42.3B $40.7B

Dec

09:15 Capacity Utilization Nov 71.4% 71.1% 70.7%

Dec

09:15 Industrial Production Nov 0.7% 0.5% 0.1%

Dec

08:30 Building Permits Nov 560K 570K 552K

Dec

08:30 Housing Starts Nov 545K 578K 529K

Dec

08:30 CPI Nov 0.3% 0.4% 0.2%

Date ET Release For Actual Briefing.com Consensus Prior

Dec

08:30 Core CPI Nov 0.0% 0.1% 0.3%

Dec

10:30 Crude Inventories 12/11 NA NA -3.82M

Dec

14:15 FOMC Rate Decision Dec 16 0.25% 0.25% 0.25%

Dec

8:30 Initial Claims 12/12 450K 465K 474K

Dec

08:30 Continuing Claims 12/5 5250K 5170K 5157K

Dec17

10:00 Leading Indicators Nov 0.6% 0.7% 0.3%

Dec

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 1088.00

Mar NQ: pos with support at 1775.00

Mar Mini Dow: neg with res at 10360

Feb Gold: neg with res at 1134.0

Mar Silver: pos with support at 16.95

Mar Copper: neg with res at 318.00

Mar Yen: neg with res at 111.70

Mar Swiss: neg with res at 96.24

Mar EC: neg with res at 144.85

Mar Canadian: neg with res at 94.10

Mar BP: neg with res at 163.00

Mar Aussie: neg with res at 88.91

Feb Crude: pos with support at 73.00

Feb Mini Nat Gas: pos with support at 5.71

Mar Soybeans: pos with support at 10.12

Mar Wheat: pos with support at 5.09

Mar Ten Year: neg with res at 117.28

Mar 30 Year : neg with res at 118.12

June Eurodollar: potential reversal day

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International Markets

Mar Bund: pos with support at 122.88

Mar Dax: neg with res at 5934

**********

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.

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

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.

Futures Trading Systems