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Pound lifted by better than British industrial production news

Top Day Rec

09.08.09

 

Very light news day with just consumer credit out at the end of the day. Better than expected British industrial production lifts the Pound. Gold breaks above $1,000 for the first time since Feb as EC makes a new high for the year at DX a new low.

US labor markets continues to labor while the economy remains faced with excess capacity.  

Gold RSI signals a cautionary alert as itís above 70

      

Sep 08

15:00

Consumer Credit

Jul

 

-8.5B

-4.0B

-10.3B

 

Sep 09

10:30

Crude Inventories

09/04

 

NA

NA

-372K

 

Sep 09

14:00

Fed's Beige Book

 

 

 

 

 

 

Sep 10

08:30

Initial Claims

09/05

 

-565K

560K

570K

 

Sep 10

08:30

Continuing Claims

09/29

 

6150K

6200K

6234K

 

Sep 10

08:30

Trade Balance

Jul

 

-25.5B

-27.4B

-27.0B

 

Sep 11

08:30

Export Prices ex-ag.

Aug

 

NA

NA

0.2%

 

Sep 11

08:30

Import Prices ex-oil

Aug

 

NA

NA

-0.2%

 

Sep 11

09:55

Mich Sentiment-Prel

Sep

 

69.0

67.8

65.7

 

Sep 11

10:00

Wholesale Inventories

Jul

 

-1.4%

-1.0%

-1.7%

 

Sep 11

14:00

Treasury Budget

Aug

 

-168.0B

-162.0B

-111.9B

 

 

 

Current views, speculations and suggestions

(good till close of business today). These are technical in nature only.

 

Sept Yen: pos with support at 107.30  

Sept Swiss: positive with support at 94.64 (unemployment there at 6 year high)    

Sept EC: positive but above daily res at 143.95  

Sept Canadian: pos with support at 92.14

Sept BP:  pos with support at 163.70        

Sept ES: pos with support at 1015

Sept NQ: pos with support at 1637   

Sept Mini Dow: pos with support at 9424

Dec Gold: pos with support at 993

Dec Silver: pos with support at 16.21  

Dec Copper: pos with support at 285

Oct Crude: neg with res at 69.60      

Nov Soybeans: neg with res at 9.52

Dec Wheat: neg with res at 4.77

Dec Ten Year:  pos with support at 116.26   

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

International Markets

Dec Bund: pos with support at 121.05

Sept Dax:  potential reversal day

NKD:  neg with res at 10280

***********  

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.

 

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

    

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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