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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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China buys Italian debt

Top Day Recommendations

9.13.11

A report yesterday afternoon in FT that China was buying Italian debt was enough to inspire short covering and lift the market into the close. (They would be buying only to protect their previously established position). This morning the Chinese are saying that they can’t be the buyer of last resort. Euro Zone debt will be 88.7% of 2012 GDP.

Early morning reversals in foreign stock markets.

Import prices lower than anticipated.

 

  

 

 

 

ET

Release

For

Actual

Briefing.com  Briefing.com

Prior

Revised

 

 

 

 

 

 

Forecast

Consensus

 

From

 

 

08:30

 Export Prices ex-ag.

Aug

 

NA

NA

0.5%

 

 

 

08:30

 Import Prices ex-oil

Aug

 

NA

NA

0.4%

 

 

 

14:00

 Treasury Budget

Aug

 

-$132.0B

-$132.0B

-

 

 

 

$90.5B

 

 

 

 

 

 

 

 

 

 

 

 

07:00

MBA Mortgage Index

09/10

 

NA

NA

-4.9%

 

 

 

08:30

PPI

Aug

 

-0.1%

0.0%

0.2%

 

 

 

08:30

 Core PPI

Aug

 

0.2%

0.2%

0.4%

 

 

 

08:30

 Retail Sales

Aug

 

-0.5%

0.2%

0.5%

 

 

 

08:30

 Retail Sales ex-auto

Aug

 

-0.2%

0.3%

0.5%

 

 

 

10:00

 Business Inventories

Jul

 

0.4%

0.5%

0.3%

 

 

 

10:30

Crude Inventories

09/10

 

NA

NA

-

 

 

 

3.963M

 

 

 

 

 

 

 

 

 

 

 

 

08:30

 Initial Claims

09/10

 

410K

410K

414K

 

 


 

 

Date

ET

Release

For

Actual

Briefing.com  Briefing.com

Prior

Revised

 

 

 

 

 

 

Forecast

Consensus

 

From

 

Sep

08:30

 Continuing Claims

09/03

 

3700K

3700K

3717K

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

Sep

08:30

CPI

Aug

 

0.2%

0.2%

0.5%

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

Sep

08:30

 Core CPI

Aug

 

0.2%

0.2%

0.2%

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

Sep

08:30

Empire Manufacturing

Sep

 

-5.0

-4.0

-7.7

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

Sep

08:30

Current Account

Q2

 

-$121.0B

-$121.5B

-$119.3

 

 

15

Balance

 

 

 

 

 

 

 

 

 

 

 

Sep

09:15

 Industrial Production

Aug

 

-0.2%

0.0%

0.9%

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

Sep

09:15

 Capacity Utilization

Aug

 

77.0%

77.4%

77.5%

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

Sep

10:00

 Philadelphia Fed

Sep

 

-15.0

-10.0

-30.7

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

Sep

09:00

Net Long-Term TIC

Jul

 

NA

NA

$3.7B

 

 

16

Flows

 

 

 

 

 

 

 

 

 

 

 

Sep

09:55

 Mich Sentiment

Sep

 

53.0

56.3

55.7

 

 

16

 

 

 

 

 

 

 

 

 

 

 

 

                     

 

 

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  Daily Resistance

R1 is Good Resistance

 

R2 is Strong Resistance

 

Levels are for the most active futures contract

 

 

Daily Support and Resistance

 

Trend              S2                  S1                 DS                    DR

R1                R2

Sept Emini

N

1098.2

1134

1140.5

1175.00

1195

1233.50

 

5

 

0

 

 

 

 

S+P

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Emini Naz

P

2038

2103.50

2145.0

2218

2293.25

2309.50

 

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

Yen

P

127.34

128.22

128.66

130.83

130.19

131.28

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EC

N

131.97

134.27

134.83

137.87

140.85

145.13

 

 

 

 

 

 

 

 

Dec 10

N

129.07

130.02

130.08

131.00

131.12

131.27

 

 

 

 

 

 

 

 

Year

 

 

 

 

 

 

 

 

Dec 30

P

138.04

139.23

140.03

141.32

142.13

143.16

 

 

 

 

 

 

 

 

Year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nov

N

13.96

14.11

13.78

14.22

14.38

14.49

 

 

 

 

 

 

 

 

Soybeans

 

 

 

 

 

 

 

 

Dec Corn

P

7.09

7.22

7.31

7.53

7.57

7.78

 

 

 

 

 

 

 

 

Dec Gold

PRD

1729

1795

1789

1851

1925

1989

 

 

 

 

 

 

 

 

 

(D)

 

 

 

 

 

 

 

Dec Silver

N

38.69

40.06

39.44

41.29

43.12

44.81

 

 

 

 

 

 

 

 

Dec

N

388

394.50

391.40

400.80

411.00

421.80

 

 

 

 

 

 

 

 

Copper

 

 

 

 

 

 

 

 

Oct

P

79.60

83.30

85.80

91.35

90.59

94.17

 

 

 

 

 

 

 

 

Crude

 

 

 

 

 

 

 

 

 

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.