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Minutes from the last Federal Open Market Committee meeting released at 2 pm.

Top Day Rec

01.06.10

ADP private jobs survey comes in at -84K but there was

an upward revision to the November number.

The consensus was calling for a job loss of 75K. After

so many readings of consecutive losses it will be quite a

shock to the system the day the number comes in

showing an add. Itís inevitable, as everything is. Hiring

by the census bureau should improve the number

temporarily.

Institute for Supply Management comes in at 10.

Cold weather continues to hold sway but at least the

flags are limp. Yesterday, pending home sales slumped

but there has to be a seasonality to all this.

Minutes from the last Federal Open Market Committee

meeting will be released at 2 pm.

This Week's Calendar

Date ET Release For Actual Briefing.com Consensus Prior

RevisedFrom

Jan 0410:00ConstructionSpendingNov -0.1% -0.5% 0.0%

Jan 0410:00ISM Index Dec 55.3 54.1 53.6

Jan 0510:00Factory Orders Nov 0.1% 0.5% 0.6%

Jan 0510:00Pending HomeSalesNov 2.0% -3.0% 3.7%

Jan 0514:00Auto Sales Dec NA NA 3.8M

Jan 0514:00Truck Sales Dec NA NA 4.6M

Jan 0607:30Challenger Job Cuts Dec NA NA -72.3%

Jan 0608:15ADP EmploymentReport

Dec -125K -75K -169K

Jan 0610:00ISM Services Dec 52.0 50.5 48.7

Jan 0610:30Crude Inventories 12/31 NA NA -1.54M

Date ET Release For Actual Briefing.com Consensus Prior

Revised From

Jan 0708:30Initial Claims 01/02 455K 445K 432K

Jan 0708:30Continuing Claims 12/26 4900K 5040K 4981K

Jan 0808:30Average Workweek Dec 33.2 33.2 33.2

Jan 0808:30Hourly Earnings Dec 0.1% 0.2% 0.1%

Jan 0808:30Nonfarm Payrolls Dec -25K 0K -11K

Jan 0808:30 UnemploymentRateDec 10.2% 10.1% 10.0%

Jan 0810:00WholesaleInventoriesNov -0.2% -0.3% 0.3%

Jan 0815:00Consumer Credit Nov -$7.0B -$5.0B -$3.5B

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 1122.00

NQ: pos with support at 1869.50

Mini Dow: pos with support at 10421.00

Gold: neg with res at 1127 and 1135

Mar Silver: pos with support at 17.57

Mar Copper: pos with support at 341.50

Mar Yen: potential reversal day

Mar Swiss: pos with support at 96.38

Mar EC: neg with res at 144.52

Mar Canadian: pos with support at 95.83

Mar BP: neg with res at 161.07

Mar Aussie: pos with support at 90.14

Feb Crude: pos with support at 81.14

Mini Nat Gas: neg with res at 5.94

Mar Soybeans: positive with support at 10.52

Mar Wheat: pos with support at 5.494

Mar Ten Year: potential reversal day

Mar 30 Year: potential reversal day

June Eurodollar: ditto

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

International Markets

Mar Bund: potential reversal day

Mar Dax: potential reversal day

**********

N.B.: if you initiate a trade using ANY of these

numbers use a STOP at least equivalent to 2 Ĺ%.

Repeat: use Stops. Donít think about using Stops.

Use Stops. Some find it appropriate to look at the

margin requirement and use that as a Stop or if

itís a steep initial requirement, use half. But

whatever you do, stop thinking about any other

alternative and 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.

 

 

*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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