Free $25 Commodity Investor Kit

Includes : Charts, Market Information, Informative News Articles, Market Alerts, Exchange Brochures, Research, Managed Futures Information, and much more!!

CONTACT INFORMATION

You can contact us by sending mail below or you can call toll free:

Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


ADDRESS

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

Resource Pages | Friend Pages

Greek defaulting, needs a monstrous handout

Top Day Recommendations

6.16.11

Jobless claims come under better than expected but still above 400K at 414K. Continuing claims at 3.7 million. That’s a disturbingly huge number. On a better note, housing starts up 3.5% with permits up to 612K against an expected 563K.

Overnight, 2 year Greek paper is flirting with 30%. That’s basically a default number. Greece doesn’t need a restructure at this point, it needs a monstrous handout. Of course, the stock market woke up to all of this yesterday and valuations were revalued lower. June traditionally isn’t the best of months for stocks but this performance is exceeding the need. The 1250 target level in the S+P mentioned at the end of last month was effectively reached with yesterday’s dismal showing. Gold has become a currency of first and last resort. I’ve included a chart of Ec/gold as the obvious money flow is to sell the EC and buy gold with it. The trend line looks fairly solid. The chart moves higher when you read left to right. The only caveat with gold is if everything goes into a death spiral and gold has to be sold as part of a universal margin call. Yesterday’s action had the feel of 2008. If the Euro zone really melts, the foreign banks are at risk. The ECB is capitalized with 10 billion dollars and holds 74 billion in debt.

Week of June 13 - June 17

Date ET Release For Actual Briefing.com Consensus Prior Revised From
Jun 14 08:30 Retail Sales May -1.0% -0.7% 0.5%
Jun 14 08:30 Retail Sales ex-auto May 0.4% 0.2% 0.6%
Jun 14 08:30 PPI May 0.1% 0.1% 0.8%
Jun 14 08:30 Core PPI May 0.1% 0.2% 0.3%
Jun 14 10:00 Business Inventories Apr 1.0% 1.0% 1.0%
Jun 15 07:00 MBA Mortgage Index 06/10 NA NA -0.4%
Jun 15 08:30 CPI May 0.1% 0.1% 0.4%
Jun 15 08:30 Core CPI May 0.1% 0.1% 0.2%
Jun 15 08:30 Empire Manufacturing Jun 7.0 10.0 11.9
Jun 15 09:00 Net Long-Term TIC Flows Apr NA NA $27.2B
Jun 15 09:15 Industrial Production May 0.2% 0.2% 0.0%
Jun 15 09:15 Capacity Utilization May 77.0% 77.0% 76.9%
Jun 15 10:00 NAHB Housing Market Index Jun 16 16 16
Jun 10:30 Crude Inventories 06/11 NA NA -4.845K
Date ET Release For Actual Briefing.com Consensus Prior Revised From
15
Jun 16 08:30 Initial Claims 06/11 425K 421K 427K
Jun 16 08:30 Continuing Claims 06/04 3700K 3690K 3676K
Jun 16 08:30 Housing Starts May 540K 540K 523K
Jun 16 08:30 Building Permits May 560K 548K 551K
Jun 16 08:30 Current Account Balance Q1 -$130.0B -$130.0B -$113.3B
Jun 16 10:00 Philadelphia Fed Jun 5.0 7.0 3.9
Jun 17 09:55 Mich Sentiment Jun 72.0 73.5 74.3
Jun 17 10:00 Leading Indicators May 0.2% 0.4% -0.3

- Numbers are good up until the 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

Some of these numbers are badly skewed due to Monday’s holiday when some markets were closed, others open

Trend S2 S1 DS DR R1 R2

Sept Emini S+P N 1240 1249.25 1249.25 1277 1285 1306
Emini Naz N 2162 2189 2187.50 2234.50 2272 2323
Yen PRD 123.61 124.07 123.19 124.24 125.26 125.99
EC N 140.49 141.78 139.28 143.22 145.49 147.86
Sep 10 Year P 122.11 123.02 122.28 124.20 124.01 124.18
Sep 30 Year P 123.13 124.18 124.10 126.24 126.20 127.17
Soybeans N 13.53 13.70 13.45 13.77 14.11 14.35
Corn N 7.014 7.44 7.01 7.50 8.14 8.42
August Gold P 1509.7 1529.3 1515.2 1536.4 1549.4 1566.3
July N 34.91 35.70 34.82 35.98 37.34 38.50
Silver
July Copper N 393 398 405 417 413 422
Aug Crude P 95.66 97.58 93.05 98.95 102.10 104.86

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.