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British Pound Higher Today But Trend Still Negative

Top Day Rec

06.09

The lack of eco news continues today with just the release of wholesale inventories at 10. Thunderstorms gather on Wall Street, literally.

Treasury auction later today.

British Pound is higher today as UK housing stabilizes but trend still negative. Political situation between Labor and Tories remains very unstable while top tax rate moves to 50% on anyone making 218K or more.

 

Jun 09

10:00

Wholesale Inventories

Apr

 

-1.0%

-1.0%

-1.6%

 

Jun 10

08:30

Trade Balance

Apr

 

-$29.5B

-$28.7B

-$27.6B

 

Jun 10

10:30

Crude Inventories

06/05

 

NA

NA

+2.87M

 

Jun 10

14:00

Treasury Budget

May

 

NA

-$175.0B

NA

 

Jun 10

14:00

Fed's Beige Book

 

 

 

 

 

 

Jun 11

08:30

Retail Sales

May

 

0.3%

0.3%

-0.4%

 

Jun 11

08:30

Retail Sales ex-auto

May

 

0.0%

0.2%

-0.5%

 

Jun 11

08:30

Initial Claims

06/06

 

610K

625K

621K

 

Jun 11

10:00

Business Inventories

Apr

 

-0.8%

-0.8%

-1.0%

 

Jun 12

08:30

Export Prices ex-ag.

May

 

NA

NA

-0.3%

 

Jun 12

08:30

Import Prices ex-oil

May

 

NA

NA

-0.7%

 

Jun 12

09:55

Mich Sentiment-Prel

Jun

 

70.5

70.0

68.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current views, speculations and suggestions

(good till close of business today)

 

June Yen: neg. short term: as long as it trades higher than 101.71, expect a test of 102.26     

June Swiss: potential reversal day

June EC: potential reversal day   

June Canadian: pos and above daily res of 90.49

June BP:  neg.  Needs to build time under 161.46 to retest 159.80.     

June ES: potential reversal day  

June NQ: pos. as long as it trades above 1489.00, look for a test of 150.50     

June Mini Dow: pos as long as it trades above 8735, look for a test of 8884

Aug Gold: potential reversal day    

July Silver: potential reversal day

July crude: potential reversal day.         

July Soybeans: pos and as long as it trades above 12.29, look for a test of 12.42

July Wheat: potential reversal day

Sept Ten Year: neg. needs to build time under 113.11 to set up a test of 112.28         

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

International Markets

Sept Bund:  pos and as long as it trades above 118.00, look for a test of 118.55       

June Dax: neg with res at 5057    

NKD: pos with  support at 9761

***********  

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.    

 

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

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.

 

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