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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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It is jobless Friday

Top Day Recommendations

11.04.11

Welcome to jobless Friday. The most important number of the month is the US unemployment number. The anticipated number is for the economy to have added 100,000 jobs. The ADP number, a private jobs forecast, came in slightly stronger on Wednesday but the correlation between the two is sketchy at best. The markets have tanked a bit just now on news out of Europe through Angela Merkel that the G- 20 which is meeting in Cannes (a great place to watch movies and fall in love with the wrong person) has failed to come to agreement regarding IMF resources to fund the European bail out package. This could be a significant development and a negative one at that.

With this new news and the fact this is unemployment Friday and it’s the weekend, the suggestion is to get out of the way, trade retracements of developing trends in the wake of the data and be flat over the weekend given European fluidity.

Stay optimistic and have a good weekend.

Week of October 31 - November 04

Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
Oct 09:45 Chicago PMI Oct   60.0 58.9 60.4  
31    
               
Nov 10:00 ISM Index Oct   53.0 52.1 51.6  
01    
               
Nov 10:00 Construction Sep   0.8% 0.3% 1.4%  
01 Spending    
             
Nov 15:00 Auto Sales Nov   NA NA 4.07M  
01    
               
Nov 15:00 Truck Sales Nov   NA NA 5.97M  
Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
01                
Nov 07:00 MBA Mortgage Index 10/29   NA NA 4.9%  
02    
               
Nov 07:30 Challenger Job Cuts Oct   NA NA -  
02   211.5%  
             
Nov 08:15 ADP Employment Oct   130K 100K 91K  
02 Change    
             
Nov 10:30 Crude Inventories 10/29   NA NA 4.735M  
02    
               
Nov 12:30 FOMC Rate Decision Nov   0.25% 0.25% 0.25%  
02    
               
Nov 08:30 Initial Claims 10/29   400K 402K 402K  
03    
               
Nov 08:30 Continuing Claims 10/22   3700K 3675K 3645K  
03    
               
Nov 08:30 Productivity-Prel Q3   2.8% 2.8% -0.7%  
03    
               
Nov 08:30 Unit Labor Costs -Prel Q3   -1.0% -1.1% 3.3%  
03    
               
Nov 10:00 Factory Orders Sep   -0.5% -0.2% -0.2%  
03    
               
Nov 10:00 ISM Services Oct   53.0 53.7 53.0  
03    
               
Nov 08:30 Nonfarm Payrolls Oct   100K 88K 103K  
04    
               
Nov 08:30 Nonfarm Private Oct   130K 114K 137K  
04 Payrolls    
             
Nov 08:30 Unemployment Rate Oct   9.2% 9.1% 9.1%  
04    
               
Nov 08:30 Hourly Earnings Oct   0.2% 0.2% 0.2%  
04    
               
Nov 08:30 Average Workweek Oct   34.3 34.3 34.3  
04    
               

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

Legend

U is Up

D is Down

PRD is Potential Reversal Day

S2 is Weekly strong support

S1 is Weekly good support

DS is Daily Support

DR is Daily Resistance

R1 is Weekly Good Resistance

R2 is Weekly Strong Resistance

Levels are for the most active futures contract

Daily Support and Resistance

Trend WS2 WS1 DS DR

WR1 WR2

Dec Emini PRD 1189.5 1235.25 1226.2 1272.50 1308.00 1335.00
0   5      
S+P (U)        
           
Dec Emini U 2242.0 2319.25 2304.5 2392.00 2441.25 2486.00
0   0      
Naz          
             
Dec Yen U 130.30 131.20 127.99 128.44 132.63 133.45
           
               
Dec EC PRD 136.11 138.79 137.03 139.05 143.28 145.09
           
  (U)            
Dec 10 U 126.27 127.15 129.19 130.22 128.15 128.27
           
Year              
Dec 30 U 134.15 135.22 139.24 142.12 137.26 138.07
           
Year              
               
Jan PRD 11.98 12.07 12.08 12.38 12.24 12.51
           
Soybeans (U)            
Dec Corn U 6.40 6.47 6.43 6.61 6.59 6.64
           
Dec Gold U 1691.3 1735.40 1736 1781 1758.40 1765.70
           
    0          
Dec Silver U 32.24 34.76 33.54 35.17 35.75 36.21
           
Dec U 355 363 351 364 377 382
           
Copper              
Dec PRD 91.16 92.24 91.75 95.49 94.15 95.00
           
Crude (U)            

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.