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Congressional passage of financial reform that amounts to reorg of prop trading overnight

Top Day Recommendations

6.25.10

Congressional passage of financial reform passed overnight. It

amounts to a reorg of prop trading. There is a G-20 meeting

overnight so tread lightly going into the weekend. Reduce

exposures.

2.7% Q3 reading for GDP. Personal Consumption at 3% down

from 3.5%5. Core PCI higher than expected. At first shudder,

this is an equity market negative. Euro/Yen reflects risk

aversion.

Week of June 21 - June 25

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Jun 22 10:00 Existing Home Sales May 6.10M 6.10M 5.77M

Jun 22 10:00 FHFA Housing Price Index Apr NA NA 0.3%

Jun 23 10:00 New Home Sales May 450K 427K 504K

Jun 23 10:30 Crude Inventories 06/19 NA NA 1.69M

Jun 23 14:15 FOMC Rate Decision Jun 23 0.25% 0.25% 0.25%

Jun 24 08:30 Durable Orders May -1.8% -1.4% 2.8%

Jun 24 08:30 Durable Orders exTransportationMay 1.3% 1.25% -1.1%

Jun 24 08:30 Initial Claims 06/19 460K 458K 472K

Jun 24 08:30 Continuing Claims 06/19 4600K 4580K 4571K

Jun 25 08:30 GDP - Third Estimate Q1 3.0% 3.0% 3.0%

Jun 25 08:30 GDP Deflator Q1 1.0% 1.0% 1.0%

Jun 25 09:55 U Michigan Sentiment - Final Jun 75.3 75.5 75.5

(Current views, speculations and suggestions

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

only, not fundamental.

Sept Emini S&P: negative with resistance at 1085.50

Sept Emini Nasdaq: neg with res at 1870.75

Sept Mini Dow: positive with support at 10022

Aug Gold: positive with support at 1232.70

July Silver: negative with resistance at 19.01

July Copper: negative with res at 303.00

Sept Yen: positive with support at 111.33

Sept Swiss: positive with support at 90.49

Sept Euro Currency: possible reversal day

Sept Canadian: negative with resistance at 96.33

Sept British Pound: neg with res at 149.92

Sept Aussie positive with support at 84.91

Aug Crude: neg with resistance at 76.94

July Nat Gas: negative with resistance at 4.88

July Wheat: possible reversal day

July Beans: negative with resistance at 9.61 3/4

July Corn: negative with resistance at 3.482

Sept Ten Year Notes: positive with daily support of 121.02

Sept 30 Year Bonds: positive with support at 124.17

Dec Eurodollar: neg with res at 99.17

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

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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