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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

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The Fed wants to manage the oil market

Top Day Recommendations

6.24.11

Curious day yesterday with the IEA making a meager release from the strategic petroleum reserves. The amount of oil is equivalent to 16 hours of US demand. But it was significant in its message. Now the Federal Reserve apparently wants to manage the oil market. They can’t lower rates anymore. Stimulus thru QE2 is coming to an end. Now what? Well you can stimulate growth through lower oil prices. Higher gasoline prices are a tax on us all. The Fed knew that oil prices would be transitory when margin requirements were about to be raised. They couldn’t knock down Brent because they have no influence over margin rates on foreign exchanges but they do have influence over the SPR. Then there was another boost to equity values in the afternoon when there was a Reuter’s story that Greece had reached a 5 year austerity agreement with the IMF and the EU. The problem isn’t with the EU and the IMF, it’s the Greek parliament. They begin debate on Monday evening.

Durables come in better than expected at 1.6%. GDP for Q1 at 1.9%. Tone improves on this release.

Week of June 20 - June 24

Date ET Release For Actual Briefing.com Forecast Briefing.com Consensus Prior Revised From
Jun 21 10:00 Existing Home Sales May 4.70M 4.78M 5.05M
Jun 22 07:00 MBA Mortgage Index 06/17 NA NA +13%
Jun 22 10:00 FHFA Housing Price Index Apr NA NA 0.3%
Jun 22 10:30 Crude Inventories 06/18 NA NA -3.406M
Date ET Release For Actual Briefing.com Forecast Briefing.com Consensus Prior Revised From
Jun 22 12:30 FOMC Rate Decision Jun 0.25% 0.25% 0.25%
Jun 23 08:30 Initial Claims 06/18 425K 418K 414K
Jun 23 08:30 Continuing Claims 06/11 3700K 3680K 3675K
Jun 23 10:00 New Home Sales May 290K 305K 323K
Jun 24 08:30 GDP - Third Estimate Q1 1.8% 1.8% 1.8%
Jun 24 08:30 GDP Deflator - Third Estimate Q1 1.9% 1.9% 1.9%
Jun 24 08:30 Durable Orders May 2.5% 1.0% -3.6%
Jun 24 08:30 Durable Orders -ex Transportation May -0.5% 0.6% -1.6% -1.5

- 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 PRD (D) 1233.50 1249.90 1262 1286 1284.50 1303.00
Emini Naz N 2130 2160 2206 2260 2236 2282
Yen PRD (D) 122.80 123.89 123.80 124.98 125.59 126.30
EC PRD (D) 138.40 140.58 140.82 142.93 144.75 146.74
Sep 10 Year PRD

(U)

121.83 122.23 123.27 124.22 124.25 125.21
Sep 30 Year N 122.17 124.07 125.24 126.29 127.02 128.07
Soybeans N 12.91 13.12 12.95 13.36 13.72 141.11
Corn N 6.26 6.63 6.51 7.12 7.64 8.29
August Gold P 1499.8 1519.8 1504 1542 1551.4 1563.0
July Silver P 33.60 34.75 34.30 36.03 36.70 37.50
July Copper N 392 401 404 410 418 426
Aug Crude P 87.14 90.21 88.98 93.76 98.37 103.40

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.