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Weekly jobless claims are out today

Top Day Recommendations

11.10.10

Week of November 08 - November 12

Weekly jobless claims are being released today as tomorrow is Veterans Day, a

government holiday. Overnight, the Portuguese bond debt sale did not go as well

as hoped and that has been weighing on the EC. The bid to cover ratio was 2 to 1

against a previous bid to cover ratio of if 4.9 to 1 back in September. Yesterday, an

increase in margin levels due to higher underlying asset values and increased

volatility for the metals triggered a reversal. The subsequent move away from risk

helped strengthen the dollar. China has also ordered their banks to increase

reserve ratios to stem inflationary pressures. This is an Aussie negative. Rates

continue to back up.

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Nov 09 10:00 Wholesale Inventories Sep 1.5% 0.6% 0.8%

Nov 10 07:00 MBA Mortgage Applications 11/05 NA NA -5%

Nov 10 08:30 Initial Claims 11/06 450K 450K 457

Nov 10 08:30 Continuing Claims 10/30 4350K 4350K 4340K

Nov 10 08:30 Trade Balance Sep -$43.0B -$45.0B -46.3B

Nov 10 08:30 Export Prices ex-ag. Oct NA NA 0.3%

Nov 10 08:30 Import Prices ex-oil Oct NA NA 0.3%

Nov 10 10:30 Crude Inventories 11/06 NA NA 1.95M

Nov 10 14:00 Treasury Budget Oct -$140.0B -$140.0B -$176.4B

Nov 12 09:55 Mich Sentiment Nov 68.5 69.0 67.7

Current views, speculations and suggestions

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

only, not fundamentally biased. PRD denotes a Potential

Reversal of trend Day

Dec Emini S&P: PRD

Dec Emini Nasdaq: positive with support at 2161.00

Dec Mini Dow: negative with resistance at 11386

Dec Gold: positive with support at 1386.70

Dec Silver: Positive with support at 27.10

Dec Copper: positive with support at 396.50

Yen: negative with resistance at 123.81

Dec Swiss: negative with resistance at 104.17

Dec Euro negative with resistance at 139.49

Dec Canadian: Positive with support at 99.05

Dec British Pound: negative with resistance at 161.61

Dec Aussie: Negative with resistance at 101.32

Dec Crude: PRD

Nov Nat Gas: positive with support at 4.10

Dec Wheat: Negative with resistance at 7.49

Jan Beans: Positive with support at 12.84

Dec Corn: negative with resistance at 5.97

Dec Ten Year Notes: negative with resistance at 127.10

Dec 30 Year Bonds: negative with resistance at 130.10

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

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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