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Australia raises rates, encouraging some market sectors to believe that the jobless recovery is set to continue

Top Day Rec

10.06.09

Nothing in terms of eco releases. Last night, Australia became the first member of G-20 to raise rates since the recession. This encouraged other market sectors to believe that the jobless recovery is set to continue. Freight rates continue to fall however, suggesting at least the possibility of a different conclusion. British manufacturing contracts and that hurts the Pound.   

  

Oct 05

10:00

ISM Services

Sep

 

49.0

50.0

48.4

 

Oct 07

10:30

Crude Inventories

10/02

 

NA

NA

2.80M

 

Oct 07

14:00

Consumer Credit

Aug

 

-15.0B

-9.5B

-21.6B

 

Oct 07

14:00

Treasury Budget

Sep

 

NA

NA

NA

 

Oct 08

08:30

Initial Claims

10/03

 

550K

NA

551K

 

Oct 08

08:30

Continuing Claims

09/26

 

6050K

NA

6090K

 

Oct 08

10:00

Wholesale Inventories

Aug

 

-1.2%

-1.0%

-1.4%

 

Oct 09

08:30

Trade Balance

Aug

 

-31.0B

-32.9B

-32.0B

 

   

 

Current views, speculations and suggestions

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

 

 

Dec Yen: neg with res at 112.35    

Dec Swiss: potential reversal day     

Dec EC: pos with support at 146.02

Dec Canadian: pos with support at 92.75

Dec BP:  neg with res at 160.75     

Dec ES: neg with res at 1050.00

Dec NQ: neg with res at 1694    

Dec Mini Dow: neg with res at 9662  

Dec Gold: pos with support at 1006.00

Dec Silver: neg with res at 17.07    

Dec Copper: neg with res at 279

Nov Crude: res at 71.55 and 72.70       

Nov Soybeans: neg with res at 9.06

Dec Wheat: neg with res at 4.57

Dec Ten Year:  potential reversal day   

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

International Markets

Dec Bund: pos with support at 122.40  

Dec Dax:  neg with res at 5606

Dec NKD neg with res at 9828  

***********  

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.

 

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

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.

 

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