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Phone: 312.920.0212
Fax: 855.994.4111


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9247 Broadway
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Merrillville, IN 46410

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Euro Zone situation still lacks clarity

Top Day Recommendations

 

 

9.29.11

 

Germany approves the expansion of the European Financial Stability Facility, a.k.a. the European relief fund. Strangely enoughmany believe that this will result in a lowering of Germany’s credit rating. Passage of the expansion has failed to quiet concernthat the debt crisis can be contained. The situation in the euro zone still lacks clarity. The market is getting tired of rallying onhope that the problem will be forcefully addressed and then collapse the next day due to frustration that it won’t be.

 

 

Volume should be thinned due to the holiday.

 

 

Many who had expected that end of quarter window dressing would lift stock prices were caught off guard yesterday by theseverity of the decline. Markets have rebounded today but on very light volume.

 

 

As far as baseball is concerned, it’s apparent that Alfredo Aceves is actually Hercules and when the Gods of Baseball lookeddown on the proceedings and realized that Boston manager Terry Francona was actually going to have to pitch Aceves five daysin a row, they decided to put an end to it.

 

 

Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally basedor 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

 

Trend             S2                  S1                 DS                    DR

 

R1                R2

 

Dec

Eminifile

S+P

P

1036.2

5

1083.00

1134.2

5

1172.50

1195.50

1261.25

Dec Emini

Naz

P

2024.2

5

2113.00

2195

2258

2311.50

2421.50

Dec Yen

P

128.93

129.71

130.31

131.23

131.35

132.35

Dec EC

N

131.31

132.93

135.02

137.52

137.04

139.53

Dec 10

Year

N

128.26

129.28

129.7

130.03

131.31

133.03

Dec 30

Year

N

136.30

140.27

139.25

142.03

147.26

150.28

Nov

Soybeans

N

1181

1219

12.09

12.49

1327

1396

 

Dec Corn

N

593

643

6.22

6.46

682

726

Dec Gold

N

1507

1631

1588

1659

1784

1909

Dec Silver

N

2286

2694

28.78

32.18

3799

4497

Dec

Copper

N

278

305

313

339

375

418

Nov

Crude

N

7130

7560

7959

8372

8611

9227

 

 

 

N.B.: if you initiate a trade using ANY of these numbers use a STOP at least equivalent to 2½%. Repeat: use Stops. Don’t think about using Stops. Use Stops. Some find it appropriateto 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 anduse Stops.

 

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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.