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Light week in terms of eco releases

Top Day Recommendations

12.06.07

As is usually the case in the aftermath of the unemployment number, this

week is a light week in terms of eco releases. Nothing today, for instance.

The confusion of last week was the discrepancies between the ADP report,

the unemployment report and the ISM report. ADP and ISM indicated job

creation while the unemployment report was dismal. The truth will be

known eventually after the eventual revisions. It made for a confusing

week. There was a huge amount of buying and short covering in the run up

to the number. Unwinds on the release of the number and disbelief on the

part of economists that they so universally got the number incorrect. The

net effect was so muddled that the Dow Jones managed to close at the

exact integer where it opened on Friday. Chances of this happening are

incredibly slim to none.

This Week's Calendar Week of December 06 - December 10

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Dec 07 15:00 Consumer Credit Oct -$2.0B -$2.3B $2.1B

Dec 08 07:00 MBA Mortgage Applications 12/03 NA NA -16.5%

Dec 08 10:30 Crude Inventories 12/04 NA NA 1.07M

Dec 09 08:30 Initial Claims 12/04 420K 430K 436K

Dec 09 08:30 Continuing Claims 11/27 4250K 4250K 4270K

Dec 09 10:00 Wholesale Inventories Oct 0.5% 0.8% 1.5%

Dec 10 08:30 Trade Balance Oct -$43.0B -$44.4B -$44.0B

Dec 10 08:30 Export Prices ex-ag. Nov NA NA 0.7%

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

Dec 10 09:55 Mich Sentiment Dec 72.5 72.5 71.6

Dec 10 14:00 Treasury Budget Nov NA -$134.0B -$120.3B

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: positive with support at 1215.25

Dec Emini Nasdaq: negative with resistance at 2194

Dec Mini Dow: negative with resistance at 1143

Dec Yen: PRD

Dec Swiss: positive with support at 100.91

Dec Euro: positive with support at 132.34

Dec Canadian: negative with resistance at 99.94

Dec British Pound: negative with resistance at 158.27

Dec Aussie: positive with support 97.74

Dec Ten Year: positive with support at 122.00

Dec 30 Year Bonds: negative with resistance at 125.07

Mar Wheat: positive with support at 7.56

Jan Beans: positive with support at 12.82

Mar Corn: negative with resistance at 5.79

Feb Gold: positive with support at 1400

Mar Silver: positive with support at 28.90

Mar Copper: positive with support at 393.00

Jan Crude: positive with support at 87.75

Dec Nat Gas: positive with support at 4.20

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

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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