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Initial jobless claims come in better than expected while GDP estimate comes at 1.7%, stocks higher

Top Day Recommendations

9.30.10

There was a rush of numbers at 8:30. Initial claims, continuing claims, the

estimate of GDP and the deflator (the implied rate of inflation) all touched down

simultaneously at 8:30 while Chicago Purchasing Managerís Index will be known

at 9:45.

Claims come in better than expected while GDP estimate comes at 1.7% which

helps bump up stocks.

Spainís credit rating cut by Moodyís at 2:10 am NY time. (I knew there was a

reason I stay up all night). Allied Irish and Anglo Irish need a total of 34 billion

Euros to recapitalize. Problem is Ireland tax rolls are 33 billion. Hello IMF.

Last trading day of the month? Already? 99 days left in the year? Whereís the

Christmas party? Why so many questions?

Fed Chairman testifies before the Senate Banking Committee today just after 10.

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Sep 28 09:00 Case-Shiller 20-city Index Jul 3.1% 3.4% 4.23%

Sep 28 10:00 Consumer Confidence Sep 54.0 52.9 53.5

Sep 29 10:30 Crude Inventories 09/25 NA NA 0.970M

Sep 30 08:30 GDP - Third Estimate Q2 1.6% 1.6% 1.6%

Sep 30 08:30 GDP - Deflator Q2 1.9% 1.9% 1.9%

Sep 30 08:30 Initial Claims 09/25 450K 457K 465K

Sep 30 08:30 Continuing Claims 09/18 4450K 4450K 4489K

Sep 30 09:45 Chicago PMI Sep 55.0 56.0 56.7

Oct 01 08:30 Personal Income Aug 0.3% 0.3% 0.2%

Oct 01 08:30 Personal Spending Aug 0.3% 0.3% 0.4%

Oct 01 08:30 PCE Prices - Core Aug 0.1% 0.1% 0.1%

Oct 01 09:55 U Michigan Consumer

Sentiment - Final

Sep 67.0 67.1 66.6

Oct 01 10:00 Construction Spending Aug -0.7% -0.5% -1.0%

Oct 01 10:00 ISM Index Sep 55.0 54.5 56.3

Oct 01 14:00 Auto Sales Sep NA 3.8M 3.7M

Oct 01 14:00 Truck Sales Sep NA 4.9M 4.96M

in Current views, speculations and suggestions

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

only, not fundamentally biased.

Dec Emini S&P: negative with resistance at 1146.00

Dec Emini Nasdaq: positive with support at 1989.00

Dec Mini Dow: positive with support at 10686

Dec Gold: positive with support at 1301.7

Dec Silver: positive with support at 21.55

Dec Copper: positive with support at 360.00

Dec Yen: positive with support at 119.18

Dec Swiss: positive with support at 101.55

Dec Euro Currency: positive with support at 135.35

Dec Canadian: negative with resistance at 97.38

Dec British Pound: potential reversal day

Dec Aussie: positive with support at 95.38

Nov Crude: negative with resistance at 78.78

Nov Nat Gas: positive with support at 391

Dec Wheat: negative with resistance at 6.93

Nov Beans: potential reversal day

Dec Corn: positive with support at 4.92

Dec Ten Year Notes: positive with support at 125.27

Dec 30 Year Bonds: positive with support at 133.11

March Eurodollar: positive with support at 99.56

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

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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