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Rollover day for stock index futures today

Top Day Recommendations

12.09.07

Today is rollover for stock index futures so March of next year is now front

month forward. This invariably leads to some confusion. At least these

instruments are cash settled. Last night, Australia came out with

unemployment at 5.2%, as expected. Job creation came in at 54,000 versus

20,000 expected which spiked the market. Metals sold off sharply yesterday

on the fear of Chinese rate hikes to battle inflationary pressures there.

Bank of England rate decision later today. Aussie spike will be met with

worries of the Chinese rate hike and that will take the currency back down

again. Aussie is a proxy for China strength/weakness. Japanese machine

tool orders stronger than expected. Weekly continuing claims will create a

pivot for US dayís actions.

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 based or biased. PRD denotes a

Potential Reversal of trend Day

Mar Emini S&P: positive with support at 1221.00

Mar Emini Nasdaq: negative with resistance at 2216

Mar Mini Dow: positive with support at 1131

Mar Yen: PRD

Mar Swiss: negative with resistance at 102.04

Mar Euro: negative with resistance at 133.32

Mar Canadian: negative with resistance at 99.14

Mar British Pound: PRD (convienent with the rate decision on

the horizon)

Mar Aussie: negative with resistance at 97.85

Mar Ten Year: PRD

Mar 30 Year Bonds: negative with resistance at 122.30

Mar Wheat: positive with support at 7.69

Jan Beans: positive with support at 12.76

Mar Corn: negative with resistance at 5.82

Feb Gold: PRD

Mar Silver: PRD

Mar Copper: positive with support at 398

Jan Crude: negative with resistance of 89.90

Jan Nat Gas: positive with support at 4.35

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

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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