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Crude stocks decline for the first time since forever

Top Day Recommendations

April 15

This Week's Calendar

Don’t forget to file. There’s something cathartic or

maybe purgative about April 15th. I may be wrong but

the code seems more arcane than ever. Totally counter

intuitive. Supposedly, someone walking around

Princeton one day asked Albert Einstein which

mathematical problem most eluded him. Poincare’s

conjecture? Fermat’s last theorem? “No, those are easy,’

he said (without offering solutions). ‘What’s beyond me

is my tax return.”

Yesterday, crude stocks decline for the first time since

forever and of course the market takes it as a cue to go

parabolic. Momentum traders love the small picture.

Like teeth in the night (at least to the bears), stocks

grind higher. The dollar was generally weaker but

overnight questions about the Greek bailout reemerge

and the dollar rebounds this morning as volcanic ash

from Iceland closes down European airspace.

Week of April 12 - April 16

Date ET Release For ActualBriefing.com Consensus Prior

RevisedFrom

Date ET Release For ActualBriefing.com Consensus Prior

RevisedFrom

Apr 12 14:00Treasury Budget Mar $62.0B $67.5B -$191.6B

Apr 13 08:30Export Prices exag.Mar NA NA -0.2%

Apr 13 08:30Import Prices exoilMar NA NA 0.2%

Apr 13 08:30Trade Balance Feb -$38.3B -$39.0B -$37.3B

Apr 14 08:30CPI Mar 0.2% 0.1% 0.0%

Apr 14 08:30Core CPI Mar 0.1% 0.1% 0.1%

Apr 14 08:30Retail Sales Mar 1.4% 1.1% 0.3%

Apr 14 08:30Retail Sales exautoMar 0.5% 0.5% 0.8%

Apr 14 10:00BusinessInventoriesFeb 0.6% 0.3% 0.0%

Apr 14 10:30CrudeInventories04/10 NA NA 1.98M

Apr 14 14:00Fed's Beige Book Apr NA NA NA

Apr 15 08:30ContinuingClaims04/03 4600K 4600K 4550K

Apr 15 08:30Initial Claims 04/10 425K 440K 460K

Apr 15 09:00Net Long-TermTIC FlowsJan NA NA $19.1B

Apr 15 09:15CapacityUtilizationMar 73.1% 73.3% 72.7%

Apr 15 09:15IndustrialProductionMar 0.5% 0.7% 0.1%

Apr 15 10:00Philadelphia Fed Apr 19.5 20.0 18.9

Apr 16 08:30Building Permits Mar 630K 626K 637K

Apr 16 08:30Housing Starts Mar 590K 610K 575K

Apr 16 09:55Mich Sentiment Apr 75.3 75.0 73.6

(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 1198.25

June Emini Nasdaq: potential reversal day

June Mini Dow: positive with support at 11002

June Gold: positive with support at 1146.00

July Silver: positive with support at 18.15

May Copper: positive with support at 357.50

June Yen: positive with support at 106.84

June Swiss: possible reversal day

June Euro Currency: possible reversal day

June Canadian: positive with support at 99.75

June British Pound: positive with support at 153.94

June Aussie: positive with support at 92.29

June Crude: negative with resistance of 87.60

May Mini Natural Gas: potential reversal day

May Wheat: negative with resistance at 4.81

June Ten Year Notes: positive with support at 116.03

June 30 Year Bonds: positive with support 115.19

Sept Eurodollar: positive with support at 99.46

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

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.

 

 

 

 

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