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Overnight, stocks internationally are lower as China indicatesthat it may restrict lending

Top Day Rec

01.07.10

Weekly jobless claims came in at +1K and change. 4.8

million on continuing claims. It was also a holiday week

so throw that into your analysis.

Overnight, stocks internationally are lower as China

indicates that it may restrict lending. If China sneezes,

well, you can finish this sentence. Japanís new finance

minister said he may welcome a weaker currency to

improve export/import and alleviate deflationary

pressures there.

Of course the great white swimming around in the

harbor is tomorrowís unemployment report.

Rates continue to ratchet higher with 10 year yields

challenging 4%

This Week's Calendar

Date ET Release For Actual Briefing.com Consensus Prior

Revised From

 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 EmploymentReportDec -125K -75K -169K

Jan 0610:00ISM Services Dec 52.0 50.5 48.7

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

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 0808:30UnemploymentRateDec 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 1124.00

NQ: potential reversal day

Mini Dow: pos with support at 1044.00

Gold: neg with res at 1146

Mar Silver: pos with support at 17.87

Mar Copper: pos with support at 337.00

Mar Yen: neg with res at 109.00

Mar Swiss: pos with support at 96.58

Mar EC: neg with res at 144.67

Mar Canadian: pos with support at 96.26

Mar BP: neg with res at 160.50

Mar Aussie: pos with support at 90.67

Feb Crude: pos with support at 81.50

Mini Nat Gas: neg with res at 6.17

Mar Soybeans: pos but below daily support of 10.42

Mar Wheat: pos with support at 5.56

Mar Ten Year: neg with res at 116.06

Mar 30 Year: neg with res at 115.56

June Eurodollar: pos with support at 99.41

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

International Markets

Mar Bund: neg with res at 121.42

Mar Dax: pos with support at 5981

**********

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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