Top Day Recommendations
3.04.11
The headline number comes in at 8.9% Expectation was for 9.1 With non farm payroll at 192K Expectation was for 196K bA generally good report considering the weather. Lots of noise after the release, lots of heat without much warmth. Calls growing for a release of strategic oil reserves which are brimming to the rim, totally full at 727 million barrels. Factory orders at 10. This Week's Calendar
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Mar 02 07:00 MBA Mortgage Index 02/25 -6.5% NA NA +13.2%
Mar 02 07:30 Challenger Job Cuts Feb 20.0% NA NA -46.1%
Mar 02 08:15 ADP Employment Change Feb 217K 160K 165K 189K 187K
Mar 02 10:30 Crude Inventories 02/26 NA NA 0.822M
Mar 02 14:00 Fed's Beige Book Mar
Mar 03 08:30 Initial Claims 02/26 400K 400K 391K
Mar 03 08:30 Continuing Claims 02/19 3800K 3800K 3790K
Mar 03 08:30 Productivity-Rev. Q4 2.4% 2.3% 2.6%
Mar 03 08:30 Unit Labor Costs - Revised Q4 -0.6% -0.4% -0.6%
Mar 03 10:00 ISM Services Feb 60.0 59.0 59.4
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Mar 04 08:30 Nonfarm Payrolls Feb 200K 183K 36K
Mar 04 08:30 Nonfarm Private Payrolls Feb 220K 195K 50K
Mar 04 08:30 Unemployment Rate Feb 9.2% 9.1% 9.0%
Mar 04 08:30 Average Workweek Feb 34.3% 34.3 34.2
Mar 04 08:30 Hourly Earnings Feb 0.2% 0.2% 0.4%
Mar 04 10:00 Factory Orders Jan 3.2% 2.1% 0.2%
Current views, speculations and suggestions.
They are good till close of business today. These are strictly technical
in nature, not fundamentally based or biased.
Legend P is Positive N is Negative PRD is Potential 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, E1, 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 PRD1268 1293 1313 1339 1343 1368
Emini Naz P 2226 2286 2236 2392 2399 2453
Yen P 11894 12067120.93122.121233 12426
EC P 13386 13563138.67140.1113877 14014
10 Year PRD11703 11800117.00118.0011914 11931
30 Year PRD11804 12002117.26118.3012223 12324
SoybeansP 12.53 1314 13.94 14.24 1417 14.59
Corn P 6.34 6.78 7.23 7.42 7.55 7.88
AprGoldP 1377 1393 1405.71432.01422 1439
MaySilverP 30.50 31.9233.92 34.87 34.53 35.73
MayCopperP 414 430 445.75453.50456 469
April P 83.50 90.8 100.4 103.1 104.5 110.77
Crude 6 9 0
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.