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Gold is lower on dollar strength and oil weakness

Top Day Rec

09.21.09

Just Leading Economic indicators at 10.

Overnight, the dollar is stronger in front of the release of LEI. Gold is lower on dollar strength and oil weakness. Equities are lower on a closer examination of valuations. China may buy gold from the IMF. British Pound is hitting target areas mentioned last week.

   

Sep 21

10:00

Leading Indicators

Aug

 

NA

0.7%

0.6%

 

Sep 22

10:00

FHFA US Housing Price Index

Jul

 

NA

0.5%

0.5%

 

Sep 23

10:30

Crude Inventories

09/18

 

NA

NA

-4.73M

 

Sep 23

14:15

FOMC Rate Decision

Sep

 

NA

0.25%

0.25%

 

Sep 24

08:30

Initial Claims

09/19

 

NA

NA

NA

 

Sep 24

08:30

Continuing Claims

09/12

 

NA

NA

NA

 

Sep 24

10:00

Existing Home Sales

Aug

 

NA

5.33M

5.24M

 

Sep 25

08:30

Durable Orders

Aug

 

NA

0.1%

5.1%

 

Sep 25

08:30

Durables, ex Transporation

Aug

 

NA

0.8%

1.1%

 

Sep 25

09:55

Mich Sentiment-Rev

Sep

 

NA

70.0

70.2

 

Sep 25

10:00

New Home Sales

Aug

 

NA

440K

433K

 

 

Current views, speculations and suggestions

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

 

 

Dec Yen: possible reversal day     

Dec Swiss: positive with support at 96.42    

Dec EC: positive with support at 146.05.  

Dec Canadian: pos with support at 92.35

Dec BP:  possible reversal day         

Dec ES: possible reversal day  

Dec NQ: pos with support at 1703.70

Dec Mini Dow: pos with support at 9630

Dec Gold: possible reversal day

Dec Silver: possible reversal day    

Dec Copper: neg with res at 287

Oct Crude: res at 72.40       

Nov Soybeans: neg with res at 9.54

Dec Wheat: neg with res at 4.62

Dec Ten Year:  neg with res at 117.12   

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

International Markets

Dec Bund: neg with res at 120.91  

Dec Dax:  potential reversal day

Dec NKD pos with support at 103.56

***********  

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.

 

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

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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