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Retail sales better than expected, possible breakup of the Euro talk overnight

Top Day Recommendations

May 14

Finally Friday. Retail sales come in better than expected at 0.4.

Overnight talk of an eventual, possible breakup of the Euro

(Volkerís voice is the latest to the choir) pressures the currency

to new lows. Interesting story in the Times this morning about

residency strictures in Portugal re: rent control. Two identical

apartments, same building; one rents for $3,500 the other for

$97.00. Gold butts into daily resistance at 1249.60. Stocks still

exhibiting a lack of confidence. Bonds higher on safe haven

buying. Spreads still in place: short EC/long gold. Long

gold/short crude. U of Michigan consumer confidence will be

the last data point of the week.

Week of May 10 - May 14

Date ET Release For ActualBriefing.com Consensus Prior

RevisedFrom

May 11 10:00WholesaleInventoriesMar 0.5% 0.5% 0.6%

May 12 08:30Trade Balance Mar -$39.5B -$40.0B -$39.7B

May 12 10:30Crude Inventories 05/08 NA NA 2.75M

May 12 14:00Treasury Budget Apr NA -$20.0B -$20.9B

May 13 08:30ContinuingClaims05/08 4600K 4590K 4594K

May 13 08:30Initial Claims 05/08 440K 440K 444K

May 13 08:30Export Prices exag.Apr NA NA 0.6%

May 13 08:30Import Prices exoilApr NA NA 0.2%

May 14 08:30Retail Sales Apr 0.6% 0.2% 1.9%

May 14 08:30Retail Sales exautoApr 0.7% 0.5% 0.9%

May 14 09:15CapacityUtilizationApr 73.7% 73.8% 73.2%

May 14 09:15Industrial Apr 0.6% 0.6% 0.1%

Date ET Release For ActualBriefing.com Consensus Prior

Revised

From

Production

May 14 09:55Mich Sentiment May 73.7 73.5 72.2

May 14 10:00

Business

Inventories

Mar 0.4% 0.4% 0.5%

(Current views, speculations and suggestions

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

only, not fundamental.

June Emini S&P: negative with resistance at 1169

June Emini Nasdaq: negative with resistance at 1973

June Mini Dow: negative with resistance at 10878

June Gold: positive with support at 1225 (res at 1249.60)

July Silver: positive with support at 19.28

July Copper: potential reversal day (but failing)

June Yen: positive with support at 107.02

June Swiss: negative with resistance at 90.23

June Euro Currency: negative with resistance at 126.62

June Canadian: positive with support at 97.42

June British Pound: possible reversal day

June Aussie: negative with resistance at 89.95

June Crude: negative with resistance at 76.02

June Mini Natural Gas: positive with support at 4.12

July Wheat: negative with resistance at 4.88

July Beans: positive with support at 9.54

July Corn: positive with support at 3.67

June Ten Year Notes: positive with support at 118.17

June 30 Year Bonds: negative with resistance at 121.26

Sept Eurodollar: negative with resistance at 99.37

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

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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