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Dollar Gets a Shot in the Arms by Japanese Finance Minister

Top Day Rec

06.12.09

University of Michigan consumer confidence is the key eco data point of the day. (When they leave the theater they donít go out humming the overture).

The dollar got a shot in the arm as the Japanese finance minister said that the dollarís status as a reserve currency isnít under threat. This counteracted recent Russian statements.

 

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 with res at 102.26

June Swiss: pos with support at 91.55

June EC: pos with support at 138.45  

June Canadian: pos but below daily support of 89.65

June BP:  pos despite all its well chronicled problems. Support at 162.35       

Sept ES: pos with support at 921.25  

Sept NQ: potential reversal day      

Sept Mini Dow: pos with support at 8590

Aug Gold: really sloppy with support at 935    

July Silver: ditto with support at 14.70

July crude: in its own universe with support at 70.50        

July Soybeans: pos with support at 12.45

July Wheat: potential reversal day

Sept Ten Year: neg. with res at 114.20        

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

International Markets

Sept Bund:  pos with support at 118.80       

June Dax: potential reversal day    

NKD: pos with  support at 100.141

***********  

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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