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FOMC meeting today, EC rallies sharply

Top Day Recommendations

12.14.07

Yet another Federal Open Market Committee meeting today. (Didnít we just

have one?). Oh well, retail sales should shake up the troops. Yesterday, EC

rallied sharply on fumes. Supposedly, the idea was that upcoming bond

auctions would go well and this would improve the appetite for risk. So, the

key for the day is play it close to the vest at 2:15 this afternoon. If there is

an indication of QE2 expansion then that would be a dollar negative.

Click on a "Release" for Insight

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Dec 14 08:30 PPI Nov 0.5% 0.5% 0.4%

Dec 14 08:30 Core PPI Nov 0.1% 0.2% -0.6%

Dec 14 08:30 Retail Sales Nov 0.4% 0.5% 1.2%

Dec 14 08:30 Retail Sales ex-auto Nov 0.4% 0.6% 0.4%

Dec 14 10:00 Business Inventories Oct 1.4% 1.1% 0.9%

Dec 14 15:15 FOMC Rate Decision Dec 14 0.25% 0.25% 0.25%

Dec 15 07:00 MBA Mortgage Applications 12/10 NA NA -0.9%

Dec 15 08:30 CPI Nov 0.2% 0.2% 0.2%

Dec 15 08:30 Core CPI Nov 0.1% 0.1% 0.0%

Dec 15 08:30 Empire Manufacturing

Survey

Dec 3.0 3.0 -11.14

Dec 15 09:00 Net Long-Term TIC Flows Oct NA NA $81.0B

Dec 15 09:15 Industrial Production Nov 0.2% 0.3% 0.0%

Dec 15 09:15 Capacity Utilization Nov 75.0% 75.0% 74.8%

Dec 15 10:00 NAHB Housing Market Index Dec 16 17 16

Dec 15 10:30 Crude Inventories 12/11 NA NA -3.82M

Dec 16 08:30 Initial Claims 12/11 415K 425K 421K

Dec 16 08:30 Continuing Claims 12/05 4000K 4078K 4086K

Dec 16 08:30 Housing Starts Nov 525K 545K 519K

Dec 16 08:30 Building Permits Nov 550K 560K 550K

Dec 16 08:30 Current Account Balance Q3 -$125.0B -$125.3B -$123.3B

Dec 16 10:00 Philadelphia Fed Dec 10.0 13.0 22.5

Date ET Release For Actual Briefing.com Consensus Prior Revised

From

Dec 17 10:00 Leading Indicators Nov 1.0% 1.2% 0.5%

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 ES&P: positive with support at 1229.75

Mar ENQ: Positive with support at 2202.00

Mar Mini Dow: positive with support at 11305

Mar Yen: Positive with support at 118.66

Mar Swiss: Positive with support at 101.75

Mar Euro: negative with resistance at 133.30

Mar Canadian: Positive with support at 98.73

Mar British Pound: negative with resistance at 158.49

Mar Aussie: PRD

Mar Ten Year: positive with support at 119.06

Mar 30 Year Bonds: negative with resistance at 122.13

Mar Wheat: positive with support at 7.67

Jan Beans: positive with support at 12.64

Mar Corn: negative with resistance at 5.79

Feb Gold: Positive with support at 1388

Mar Silver: Positive with support at 28.50

Mar Copper: positive with support at 410

Jan Crude: negative with resistance of 89.85

Jan Nat Gas: negative with resistance at 4.54

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

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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