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Today is rollover day in December stock index futures

Top Day Rec

12.10.09

Today is rollover day in December stock index futures. March is now the front month. Also, December currencies will come off the board on Monday morning (first thing) so we now will be tracking the March futures. Be out of Dec currencies Friday as itís too easy to forget about the Monday morning expiration.

Yesterday was notable for the fresh eight week low in crude as the Department of Energy report showed builds in both the gas and heating oil components.

Weekly unemployment claims came in at 474K.

Overnight, central banks are considering withdrawing stimulus packages and the Yen fell back to reflect this. Even Dubai was up 7% last night.  

 

Dec 07

15:00

Consumer Credit

Oct

 

-$11.6B

-$9.3B

-$14.8B

 

Dec 09

10:00

Wholesale Inventories

Oct

 

-0.8%

-0.5%

-0.9%

 

Dec 09

10:30

Crude Inventories

12/04

 

NA

NA

2.09M

 

Dec 10

08:30

Initial Claims

12/05

 

450K

465K

457K

 

Dec 10

08:30

Continuing Claims

12/04

 

5475K

5435K

5465K

 

Dec 10

08:30

Trade Balance

Oct

 

-$35.0B

-$37.0B

-$36.5B

 

Dec 10

14:00

Treasury Budget

Nov

 

-$135.0B

-$134.1B

-$176.4B

 

Dec 11

08:30

Export Prices ex-ag.

Nov

 

NA

NA

0.3%

 

Dec 11

08:30

Import Prices ex-oil

Nov

 

NA

NA

0.4%

 

Dec 11

08:30

Retail Sales

Nov

 

1.0%

0.7%

1.4%

 

Dec 11

08:30

Retail Sales ex-auto

Nov

 

0.2%

0.4%

0.2%

 

Dec 11

09:55

Mich Sentiment-Prel

Dec

 

69.7

68.5

67.4

 

Dec 11

10:00

Business Inventories

Oct

 

-0.2%

-0.3%

-0.4%

 

 

 

 

 

 

 

 

 

 

Current views, speculations and suggestions

(good till close of business today). These are technical in nature only, not fundamental.

 

Mar ES: pos with support at 1083.50

Mar NQ: pos with support at 1768.00   

Mar Mini Dow: pos with support at 1019.00   

Feb Gold: potential reversal day

Mar Silver: neg with res at 17.68 and 18.18      

Mar Copper: potential reversal day  

Mar Yen: pos with support at 113.06       

Mar Swiss: neg with res at 97.85         

Mar EC: neg with res at 147.70  

Mar Canadian: neg with res at 95.39      

Mar BP:  neg with res at 163.40    

Mar Aussie: neg with res at 90.72     

Jan Crude: neg with res at 72.98        

Jan Soybeans: potential reversal day    

Mar Wheat: neg with res at 5.42       

Mar Ten Year:  neg with rest at 118.29  

Mar 30 Year : neg with res at 119.28

June Eurodollar: pos with support at  99.39

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

International Markets

Mar Bund: pos with support at 122.98  

Mar Dax: neg with res at 5773

**********  

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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*The risk of loss exists in futures and commodity investing. Past performance is not indicative of future results or performance. Only risk capital should be used when making investments in the commodity markets.

 

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