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Better consumer confidence news today

Top Day Rec

6.30.09

A better news day with consumer confidence and the closely watched Case-Schiller home price index which is expected to show a decline of 18% year on year. Also, Chicago area purchasing managers report.

Domestic markets closed Friday to observe the 4th on the 3rd.

Yet another treasury auction today.

UK economy contracts as GDP drops 2.4%, most since 1958. Some fear an eventual sterling crisis but BP, so far, has taken this in stride.   

  Jun 30

09:00

Consumer Confidence

Jun

 

56.0

55.1

54.9

 

Jun 30

09:00

S&P/Case-Shiller Home Price Index

Apr

 

NA

-18.75%

-18.70%

 

Jun 30

09:45

Chicago PMI

Jun

 

38.5

38.5

34.9

 

Jul 01

08:15

ADP Employment Change

Jun

 

-400K

-363K

-532K

 

Jul 01

10:00

Construction Spending

May

 

-0.8%

-0.5%

0.8%

 

Jul 01

10:00

ISM Index

Jun

 

44.0

44.0

42.8

 

Jul 01

10:00

Pending Home Sales

May

 

0.0%

1.1%

6.7%

 

Jul 01

10:30

Crude Inventories

06/26

 

NA

NA

-3.87M

 

Jul 01

14:00

Auto Sales

Jun

 

NA

NA

3.3M

 

Jul 01

14:00

Truck Sales

Jun

 

NA

NA

4.1M

 

Jul 02

08:30

Nonfarm Payrolls

Jun

 

-400K

-370K

-345K

 

Jul 02

08:30

Unemployment Rate

Jun

 

9.6%

9.6%

9.4%

 

Jul 02

08:30

Hourly Earnings

Jun

 

0.2%

0.2%

0.1%

 

Jul 02

08:30

Average Workweek

Jun

 

33.1

33.1

33.1

 

Jul 02

08:30

Initial Claims

06/27

 

605K

NA

627K

 

Jul 02

10:00

Factory Orders

May

 

0.2%

0.2%

0.7%

 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current views, speculations and suggestions

(good till close of business today)

 

Sept Yen: pos with support at 103.40

Sept Swiss: pos with support at 91.96

Sept EC: pos with support at 140.20  

Sept Canadian: neg with res at 86.90 and 87.25

Sept BP:  potential reversal day        

Sept ES: neg with res at 917.50    

Sept NQ: pos with support at 1468     

Sept Mini Dow: neg with res at 8510 

Aug Gold: positive with daily support of 934   

July Silver: pos with support at 13.85 

Aug crude: pos with support at 6930    

Nov Soybeans: neg with res at 10.03

Sept Wheat: neg with res at 5.66

Sept Ten Year: pos with support at 116.04       

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

International Markets

Sept Bund:  pos with support at 120.96       

Sept Dax: neg with res at 4946

NKD: neg with res at 1055

 

***********  

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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