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Wall Street broadly lower but taking GS higher on the day

Top Day Recommendations

April 28

Wall Street voted yesterday, as it often does when given these

opportunities, by taking the broad market broadly lower and taking GS

higher on the day. In the futures market, itís a zero sum game. For

every long position, there has to be a short position and itís visible and

itís marked to the market continuously. The problem with a synthetic

product is that you can create an infinite number of them and there is

no transparency in valuation. You can value them at just about

anything you want to until you go to sell them. There is no transparency

in terms of value and failure of the counterparty can threaten the entire

system.

Greek debt downgraded to junk while Portugal is downgraded.

FOMC rate decision at 2:15. Verbiage will be parsed. Conclusions could

be consequential.

Week of April 26 - April 30

Date ET Release For Actual Briefing.com Consensus Prior

RevisedFrom

Apr 27 09:00Case-Shiller 20-cityIndex (y/y)Feb 0.7% 1.1% -0.7%

Apr 27 10:00ConsumerConfidenceApr 54.0 53.7 52.5

Apr 28 10:30Crude Inventories 04/24 NA NA 1.89M

Apr 28 14:15FOMC RateDecision4/28 0.25% 0.25% 0.25%

Apr 29 08:30Continuing Claims 04/17 4625K 4625K 4646K

Apr 29 08:30Initial Claims 04/24 435K 440K 456K

Apr 30 08:30GDP-Adv. Q1 1.8% 3.2% 5.6%

Apr 30 08:30Chain Deflator-Adv.Q1 0.9% 0.9% 0.5%

Apr 30 08:30Employment CostIndexQ1 0.5% 0.5% 0.5%

Apr 30 09:45Chicago PMI Apr 59.5 59.8 58.8

Apr 30 09:55Mich Sentiment Apr 72.0 71.5 69.5

(Current views, speculations and suggestions

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

only, not fundamental.

June Emini S&P: potential reversal day

June Emini Nasdaq: potential reversal day

June Mini Dow: positive with support at 10861

June Gold: positive with support at 1148.00

July Silver: potential reversal day

May Copper: negative with resistance at 349.90

June Yen: negative with resistance at 108.02

June Swiss: negative with resistance at 9313

June Euro Currency: negative with resistance at 133.60

June Canadian: negative with resistance at 99.65

June British Pound: positive with support at 151.66

June Aussie: positive with support at 90.50

June Crude: negative with resistance at 83.90

June Mini Natural Gas: positive with support at 4.27

July Wheat: positive with support at 4.846

July Beans: positive with support at 9.86

July Corn: negative with resistance at 3.59

June Ten Year Notes: positive with support at 116.29

June 30 Year Bonds: negative with resistance at 119.00

Sept Eurodollar: negative with resistance at 99.44

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

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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