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Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


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United Futures Trading Company, Inc.
9247 Broadway
Suite EE
Merrillville, IN 46410

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Housing starts come in a bit better than expected

Top Day Recommendations

4.16.11

Housing starts come in a bit better than expected at 549K vs. 540K expected. Today is the expiration for May crude so be out early or roll over. Just hit a new low for the day. Oil was under pressure yesterday as the Saudis say that the world oil markets are well supplied. Also, the downgrade in performance for the US economy by S+P yesterday was an oil market negative. Yesterday’s S+P call triggered a wild ride in metals which were initially higher, then lower, then higher, by a lot. Something for everyone. Currencies are trading without much direction while gold is building up torque under 1500 an ounce. It’s not a case of if but when this level will be breached.

This Week's Calendar

Date ET Release For Actual Briefing.com Consensus Prior Revised From
Apr 19 08:30 Housing Starts Mar 549K 500K 520K 512K 479K
Apr 19 08:30 Building Permits Mar 594K 530K 540K 534K 517K
Apr 20 07:00 MBA Mortgage Purchase Index 04/15 NA NA -6.7%
Apr 20 10:00 Existing Home Sales Mar 5.15M 5.00M 4.88M
Apr 20 10:30 Crude Inventories 04/16 NA NA 1.627M
Apr 21 08:30 Initial Claims 04/16 370K 390K 412K
Apr 21 08:30 Continuing Claims 04/16 3650K 3650K 3680K
Apr 21 10:00 Philadelphia Fed Apr 30 33.0 43.4
Apr 21 10:00 Leading Indicators Mar 0.2% 0.2% 0.8%
Apr 21 10:00 FHFA Housing Price Index Feb NA NA -0.3%

Read more: http://briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1JyNccmoY

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 P 1308.50 1316 1288 1316 1333 1344
Emini Naz N 2279 2298 2259 2316 2343 2369
Yen P 115.73 116.83 120.21 121.79 119.17 120.41
EC PRD 140.06 142.073 141.06 146.56 1454 1467
10 Year P 117.01 117.28 119.23 120.14 119.07 120.03
30 Year P 116.03 117.10 120.08 121.23 120.10 122.03
Soybeans N 13.55 13.79 13.37 13.67 14.205 14.375
Corn P 7.25 7.494 7.466 7.654 7.896 8.05
June Gold P 1413.3 1444.8 1481 1501 1468.7 1507.9
May Silver P 36.75 38.84 42.25 43.61 41.99 43.05
May Copper N 410.30 430.50 415 426 461.60 472.50
June Crude P 105.54 109.25 105.32 109.46 115.00 116.96

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.