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Currencies and Equities are lower on overnight jitters about FOMC meeting results today

Top Day Recommendations

8.10.10

Overnight, jitters about todayís Federal Open Market Committee meeting (results

at 2:15) sent currencies and equities lower. The idea is that the Fed might

announce further stimulus measures and this could strengthen the dollar against

various counterparts. Also, Chinese trade balance increases madly even as China

closes 2,000 factories. Productivity numbers drop and unit labor costs drop.

FOMC days are worth avoiding, if you can.

Week of August 09 - August 13

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Aug 10 08:30 Productivity-Prel Q2 0.1% 0.1% 2.8%

Aug 10 08:30 Unit Labor Costs Q2 1.3% 1.4% -1.3%

Aug 10 10:00 Wholesale Inventories Jun 0.0% 0.4% 0.5%

Aug 10 14:15 FOMC Rate Decision Aug 10 0.25% 0.25% 0.25%

Aug 11 08:30 Trade Balance Jun -$43.0B -$42.5B -42.3B

Aug 11 10:30 Crude Inventories 08/07 NA NA -2.78M

Aug 11 14:00 Treasury Budget Jul -$169.0B -$169.0B -$180.7B

Aug 12 08:30 Initial Claims 08/07 465K 465K 479K

Aug 12 08:30 Continuing Claims 07/31 4500K 4550K 4537K

Aug 12 08:30 Export Prices ex-ag. Jul NA NA -0.2%

Aug 12 08:30 Import Prices ex-oil Jul NA NA -0.6%

Aug 13 08:30 CPI Jul 0.1% 0.2% -0.1%

Aug 13 08:30 Core CPI Jul 0.1% 0.1% 0.2%

Aug 13 08:30 Retail Sales Jul 0.5% 0.5% -0.5%

Aug 13 08:30 Retail Sales ex-auto Jul 0.4% 0.2% -0.1%

Aug 13 09:55 Mich Sentiment Aug 67.0 70.0 67.80

Aug 13 10:00 Business Inventories Jun 0.2% 0.2% 0.1%

(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 1112.75

Sept Emini Nasdaq: negative with resistance at 1921.00

Sept Mini Dow: positive with support at 10554

Dec Gold: positive with support at 1194.20

Sept Silver: positive with support at 17.99

Sept Copper: positive but below daily support of 330.50

Sept Yen: positive with support at 116.15 and 115.82

Sept Swiss: positive but below daily of 94.53

Sept Euro Currency: positive but below daily support at

131.50

Sept Canadian: positive but below daily support at 96.88

Sept British Pound: positive but below daily support at 158.22

Sept Aussie positive but below support at 90.85

Sept Crude: positive but below support at 80.26

Sept Nat Gas: negative with resistance at 4.45

Dec Wheat: positive with support at 7.16

Nov Beans: positive with support at 10.21

Dec Corn: positive with support at 4.10

Sept Ten Year Notes: positive with support at 124.08

Sept 30 Year Bonds: positive with support at 128.24

March Eurodollar: positive with support at 99.44

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

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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