More Earnings Data Affecting Index Futures

Top Day Rec

04.22.09

Just the release of the oil stats from the Department of Energy today. Morgan Stanley has a miss and is down 6.4% in pre trade. Ford gets a buy rating from Goldman. No eco releases today. The buzz this morning is about deflation. There was an interesting story in yesterday’s Times regarding Spain. Deflation is a vicious cycle marked by  continuing rounds of lower interest rates, job loss and price markdowns to stimulate sales.      

        

Apr 20

10:00

Leading Indicators

Mar

NA

-0.2%

-0.4%

Apr 22

10:35

Crude Inventories

04/17

NA

NA

+5670K

Apr 23

08:30

Initial Claims

04/18

NA

630K

610K

Apr 23

10:00

Existing Home Sales

Mar

NA

4.65M

4.72M

Apr 24

08:30

Durable Orders

Mar

NA

-1.5%

5.1%

Apr 24

08:30

Durable Orders, Ex-Auto

Mar

NA

-1.2%

3.9%

Apr 24

10:00

New Home Sales

Mar

NA

340K

337K

Current views, speculations and suggestions

 

June Yen: pos with support at 101.20 on risk aversion.  

June Swiss: neg with res at 8594   

June EC:  neg with res at 129.80  

June Canadian: neg with res at 81.50

June BP:  neg with res at 147.65    

June ES: positive with support at 815

June NQ: positive with support at 1290  

June Russell: positive with support at 441    

June Mini Dow: pos with support at 766

Jun Gold: pos with support at 877

May Silver: pos with support at 11.88

June crude: neg with res at 49.70      

May Soybeans: pos with support at 10.20   

May Wheat: neg with res at 5.22  

 June Ten Year: pos with support at 122.13       

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International Markets

June Bund: potential reversal day        

June Dax: potential reversal day (down)

NK: pos with support at 8560

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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.   

 

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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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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.