Top Day Recommendations
3.21.11
Coalition bombing in Libya seems to be succeeding in its objectives. Wall Street is
voting its affirmation of the action and is consequently higher this morning. Oil is higher
but maybe not as much as one would think. Recent internal activity suggests that
commercial interests on the short side of this market while the public is on the long side.
As for positive markets, look to gold and silver along with stocks for buy set-ups. Of
course the main problem with Libya is what happens after Kaddafi?
Citigroup in a reverse stock split is up 3%.
Chicago area manufacturing index is lower by 0.4%. Chicago is strangely lagging other
areas of the country.
Another soggy day in New York but given what’s going on with the rest of the world how
can you complain?
Week of March 21 - March 25
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Mar 21 10:00 Existing Home Sales Feb 4.80M 5.05M 5.36M
Mar 22 10:00 FHFA Housing Price Index Jan NA NA -0.3%
Mar 23 07:00 MBA Mortgage Index 03/18 NA NA -0.7%
Mar 23 10:00 New Home Sales Feb 275K 288K 284K
Mar 23 10:30 Crude Inventories 03/19 NA NA 1.745M
Mar 24 08:30 Initial Claims 03/19 370K 384K 385K
Mar 24 08:30 Continuing Claims 03/19 3700K 3700K 3706K
Mar 24 08:30 Durable Orders Feb 0.2% 0.9% 3.2% 2.7%
Mar 24 08:30 Durable Orders ex Transportation Feb 0.5% 1.8% -3.0% -3.6%
Mar 25 08:30 GDP - Third Estimate Q4 2.9% 2.9% 2.8%
Mar 25 08:30 GDP Deflator - Third Estimate Q4 0.4% 0.4% 0.4%
Mar 25 09:55 Michigan Sentiment - Final Mar 69.0 68.0 68.2
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
Levels are for the most active futures contract
Daily Support and Resistance
Trend S2 S1 DS DR R1 R2
Emini S+P PR D 1212.50 1243.50 1274 1287.50 1302 1331.50
Emini Naz N 2121 2171 2206 2245 2286 2351
Yen PR D 116.62 120.09 121.51 126.09 128.30 133.04
EC P 137.15 139.26 140.11 142.16 142.75 143.77
10 Year PR D 118.13 119.17 119.31 121.02 121.26 122.31
30 Year PR D 117.25 119.25 121.01 122.08 123.23 125.21
Soybeans P 12.235 12.93 13.28 13.91 14.08 14.55
Corn PR D 5.77 6.30 6.61 7.00 7.14 7.44
Apr Gold P 1358.3 1388.8 1429 1441.6 1463.9
May Silver P 32.14 33.72 34.36 35.58 36.65 38.05
May Copper N 397 416 430.00 437 446.60 457
April Crude N 98.30 98.15 100.39 104.18 105.68 108.87
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.