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Crude inventories out today.  More concerns about Greek indebtedness and the British elections

Top Day Recommendations

April 7th

Just the crude inventories today. Overnight, more concern

about Greek indebtedness and the British elections. Greece

yields against German maturities at record spreads. Since

Greece cannot inflate their way out of their problems by

printing more ECís, they have to borrow their way out and

these yields suggest that this is going to be a very expensive, if

not crippling, proposition. The Fed continues to want to keep

US interest rates at record lows, at least according to the

FOMC minutes released yesterday.

This Week's Calendar

Date ET Release For Actual Briefing.com Consensus Prior

Revised From

Apr0510:00ISMServicesMar 54.4 54.0 53.0

Apr0510:00PendingHomeSalesFeb -2.5% -1.0% -7.6%

Apr0614:00Minutes ofFOMCMeeting

Apr0710:30CrudeInventories04/03 NA NA 2.93M

Apr0715:00ConsumerCreditFeb -$1.4B $1.6B $5.0B

Apr0808:30ContinuingClaims03/27 4650K NA 4662K

Apr0808:30InitialClaims04/03 440K 433K 439K

Apr0910:00WholesaleInventoriesFeb -0.1% 0.3% -0.1%

Date ET Release For Actual Briefing.com Consensus Prior

Revised From

(Current views, speculations and suggestions

good till close of business today). These are technical in nature

only, not fundamental.

June Emini S&P: positive with support at 1173.00

June Emini Nasdaq: potential reversal day

June Mini Dow: positive with support at 1087

June Gold: positive with support at 1126.40

May Silver: positive with support at 17.81

May Copper: positive with support at 358.00

June Yen: potential reversal day

June Swiss: negative with resistance at 94.12

June Euro Currency: negative with resistance at 134.76

June Canadian: positive with support at 99.64

June British Pound: positive with support at 151.60

June Aussie: potential reversal day

May Crude: positive with support at 85.72

May Mini Natural Gas: positive with support at 3.91

May Wheat: negative with resistance at 4.72

June Ten Year Notes: negative with resistance at 115.22

June 30 Year Bonds: negative with resistance at 115.06

Sept Eurodollar: negative with resistance at 99.47

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

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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