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Initial job claims come in better than expected

Top Day Recommendations

7.15.10

Initial claims come in better than expected. Empire State

Manufacturing also come in below expectations. Dollar is

weaker universally as more shorts cover in EC. Inflation

numbers are tame. Stocks are reluctantly higher after

yesterday’s buy the rumor, sell the news scenario. Once

burned, twice shy? JP Morgan reports a big beat. Are we

working on a double doji top? See chart. Time will reveal all.

Week of July 12 - July 16

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Jul 13 08:30 Trade Balance May -$39.5B -$39.5B -$40.3B

Jul 13 14:00 Treasury Budget Jun -$69.0B -$70.0B -$135.9B

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Jul 14 08:30 Retail Sales Jun -0.2% -0.2% -1.2%

Jul 14 08:30 Retail Sales ex-auto Jun -0.1% 0.0% -0.8%

Jul 14 08:30 Export Prices ex-ag. Jun NA NA 0.6%

Jul 14 08:30 Import Prices ex-oil Jun NA NA 0.5%

Jul 14 10:00 Business Inventories May 0.3% 0.2% 0.4%

Jul 14 10:30 Crude Inventories 07/10 NA NA -4.96M

Jul 14 14:00 Minutes of FOMC Meeting

Jul 15 08:30 Initial Claims 07/10 460K 449K 454K

Jul 15 08:30 Continuing Claims 07/03 4450K 4425K 4413K

Jul 15 08:30 PPI Jun -0.1% -0.1% -0.3%

Jul 15 08:30 Core PPI Jun 0.0% 0.1% 0.2%

Jul 15 08:30 NY Fed - Empire Manufacturing

Index

July 19.0 18.0 19.57

Jul 15 09:15 Industrial Production Jun -0.2% 0.0% 1.3%

Jul 15 09:15 Capacity Utilization Jun 74.1% 74.2 74.1%

Jul 15 10:00 Philadelphia Fed Jul 10 10 8.0

Jul 16 08:30 Core CPI Jun 0.0% 0.1% 0.1%

Jul 16 08:30 CPI Jun -0.2% 0.0% -0.2%

Jul 16 09:00 Net Long-Term TIC Flows Apr NA NA $83.0B

Jul 16 09:55 Mich Sentiment Jul 74.0 74.5 76.0

(Current views, speculations and suggestions

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

only, not fundamental.

Sept Emini S&P: positive with support at 1083.00

Sept Emini Nasdaq: positive with support at 1837.50

Sept Mini Dow: positive with support at 10248

Aug Gold: positive with support at 1200.20

Sept Silver: potential reversal day

Sept Copper: negative with resistance at 304.50

Sept Yen: positive with support at 112.60

Sept Swiss: positive with support at 94.40

Sept Euro Currency: positive with support at 126.81

Sept Canadian: positive with support at 96.20

Sept British Pound: potential reversal day

Sept Aussie positive with support at 86.75

Aug Crude: positive with support at 75.40

Sept Nat Gas: negative with resistance at 4.36

Sept Wheat: positive with support at 5.47

Sept Beans: positive with support at 9.66

Sept Corn: positive with support at 3.78

Sept Ten Year Notes: negative with resistance at 122.17

Sept 30 Year Bonds: negative with resistance at 127.04

March Eurodollar: positive with support at 99.27

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

N.B.: if you initiate a trade using ANY of these

numbers use a STOP at least equivalent to 2 ˝%.

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.

 

 

 

 

*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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