Another Volatile Day in the Index Futures due to Jobless Claims

Top Day Rec

04.23.09

Weekly jobless claims come in as about as expected at +27K to 640K. EBay results after the close yesterday put a bid back into stocks as it gave a sense that the consumer may be drawing a line in the shifting sands. UK raises top tax rate to 50%. It’s hard to imagine that historically their highest tax rate was 90%. It’s hard to imagine anyone staying. Fewer Americans moved last year than at any time in recent history. Existing home sales at 10.  

          

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 101.35. Trades inversely with ES.

  

June Swiss: neg with res at 8683   

June EC: potential reversal day   

June Canadian: potential reversal day

June BP:  neg with res at 146.60. UK budget a killer.     

June ES: positive with support at 828.50

June NQ: positive with support at 1305  

June Russell: positive with support at 456    

June Mini Dow: pos with support at 775

Jun Gold: pos with support at 884

May Silver: pos with support at 12.09

June crude: potential reversal day       

May Soybeans: pos with support at 10.37   

May Wheat: potential reversal day   

 June Ten Year: potential reversal day      

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

International Markets

June Bund: neg with res at 123.00        

June Dax: pos with support at 4500

NK: pos with support at 8673

***********  

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.   

 

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

    

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

 ***********************     

 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.