Top Day Recommendations
February 18th
No eco releases today.
G 20, representing 80% of world GDP, will meet in Paris over the weekend
(notice how they never meet in Sandusky, Ohio?). They will seek to redress
imbalances. That seems like a never ending task, doesn’t it? Isn’t the world
always out of balance and the center will not hold? Sounds like permanent
employment like painting the Golden Gate Bridge.
The end of an era occurs today as Vision moves its New York office from 1
Whitehall to 75 Broad Street, one block south of the august NYSE. 75 Broad
was a commodity trading center from 1933 to the arrival of the World Trade
Center in 1975. History circulates through these tight, uneven streets of
lower Manhattan and markets arrive and dissolve only to reinvent
themselves again as do the players that play them. Just the other day I
thought I at least wanted to see Diamond Jim Brady hurriedly leave
Delmonico’s heading for who knows where to do a deal with who knows
who.
If you haven’t read Michael Thomas’ take on the Irish banking debacle in
Vanity Fair, do so. As far as financial writing goes, it doesn’t get much
better.
Week of February 14 - February 18
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Feb 15 08:30 Retail Sales Jan 0.7% 0.5% 0.6%
Feb 15 08:30 Retail Sales ex-auto Jan 0.7% 0.6% 0.5%
Feb 15 08:30 Empire Manufacturing Feb 14.0 16.0 11.92
Feb 15 08:30 Export Prices ex-ag. Jan NA NA 0.6%
Feb 15 08:30 Import Prices ex-oil Jan NA NA 0.3%
Feb 15 09:00 Net Long-Term TIC Flows Dec NA NA $85.1B
Feb 15 10:00 Business Inventories Dec 0.7% 0.7% 0.2%
Feb 15 10:00 NAHB Housing Market Index Feb 16 16 16
Feb 16 07:00 MBA Mortgage Purchase Index 02/11 NA NA -5.5%
Feb 16 08:30 Housing Starts Jan 555K 540K 529K
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Feb 16 08:30 Building Permits Jan 550K 580K 635K
Feb 16 08:30 PPI Jan 0.7% 0.7% 1.1%
Feb 16 08:30 Core PPI Jan 0.3% 0.2% 0.2%
Feb 16 09:15 Industrial Production Jan 0.6% 0.6% 0.8%
Feb 16 09:15 Capacity Utilization Jan 76.2% 76.4% 76.0%
Feb 16 10:30 Crude Inventories 02/12 NA NA 1.9M
Feb 16 14:00 Fed Minutes
Feb 17 08:30 CPI Jan 0.3% 0.3% 0.5%
Feb 17 08:30 Core CPI Jan 0.1% 0.1% 0.1%
Feb 17 08:30 Initial Claims 02/12 415K 410K 383K
Feb 17 08:30 Continuing Claims 02/05 3900K 3900K 3888K
Feb 17 10:00 Leading Indicators Jan 0.2% 0.2% 1.0%
Feb 17 10:00 Philadelphia Fed Feb 20.0 21.9 19.3
Read more: http://briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1DuMPJJx1
Current views, speculations and suggestions
good till close of business today. These are strictly technical in nature
only, not fundamentally based or biased.
Legend:
P is positive
N is Negative
PRD is Potential Trend Reversal Day
S2 is strong support
S1 is good support
DS is Daily Support
DR is Daily Resistance
R1 is Good resistance
R2 is Strong Resistance
S1, S2, R1, R2 change once, weekly, so DS can be below weekly support
levels and DR can be above weekly resistance levels as a week of trading
unfolds
Levels are for the most active futures contract.
DAILY SUPPORT AND RESISTANCE
Trend S2 S1 DS DR R1 R2
Emini
S&P P 1297 1312 1331 1342 1335 1343
Emini NQ P 2318 2348 2384 2400 2394 2410
Yen PRD 111.75 118.77 119.92 120.37 121.57 123.35
EC P 133.41 134.37 135.50 136.34 136.84 138.35
10 year P 117.04 117.26 119.19 119.10 119.01 119.19
30 year P 115.31 117.06 118.29 119.28 119.06 120.03
Soybeans N 13.81 13.98 13.78 14.18 14.44 14.72
Corn PRD 6.52 6.795 6.98 7.19 7.20 7.335
Apr Gold P 1331.2 1343.9 1377 1389 1369.5 1382.4
Silver N 28.29 29.07 30.86 32.06 30.56 31.28
Copper PRD 440 447 442 452 463 471
Apr
Crude N 82.20 83.74 87.71 89.61 88.18 91.08
**************
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. 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.