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Stress-Tests Will be Released at 5 pm Today/ECB Lowers Rates

Top Day Rec

05.07.09

ECB lowers rates while BOE leaves rates unchanged. ECB doesn’t suggest unusual market operations such as buying its own debt to stimulate eco activity, otherwise known as quantitative easing. Stateside we will have the release of the “stress tests” neo-nomenclature for a doomsday audit. We have been assured by the Treasury Secretary that the results will be reassuring. Results out at 5 pm.

 

May 04

10:00

Construction Spending

Mar

 

NA

-1.4%

-0.9%

 

May 04

10:00

Pending Home Sales

Mar

 

NA

0.0%

2.1%

 

May 05

10:00

ISM Services

Apr

 

NA

42.0

40.8

 

May 06

08:15

ADP Employment Change

Apr

 

NA

-643K

-742K

 

May 06

10:30

Crude Inventories

05/01

 

NA

NA

+4053K

 

May 07

08:30

Initial Claims

05/02

 

NA

NA

NA

 

May 07

08:30

Productivity-Prel

Q1

 

NA

0.9%

-0.4%

 

May 07

08:30

Unit Labor Costs

Q1

 

NA

2.5%

5.7%

 

May 07

15:00

Consumer Credit

Mar

 

NA

-$3.3B

-$7.5B

 

May 08

08:30

Average Workweek

Apr

 

NA

33.2

33.2

 

May 08

08:30

Hourly Earnings

Apr

 

NA

0.2%

0.2%

 

May 08

08:30

Nonfarm Payrolls

Apr

 

NA

-620K

-663K

 

May 08

08:30

Unemployment Rate

Apr

 

NA

8.9%

8.5%

 

May 08

10:00

Wholesale Inventories

Mar

 

NA

-1.0%

-1.5%

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current views, speculations and suggestions

 

June Yen: neg with res at 102.30  

June Swiss: positive with support at 87.55

June EC: positive with support at 131.95   

June Canadian: positive with support at 84.95

June BP:  pos with support at 149.30.     

June ES: positive with support at 899.50

June NQ: positive with support at 1407.50

June Russell: positive with support at 496.00   

June Mini Dow: positive with support at 8345

Jun Gold: positive with support at 900    

July Silver: pos with support at 13.38

June crude: positive with support at 54.50         

July Soybeans: positive with support at 10.90

July Wheat: positive with support at 5.49

June Ten Year: positive with support at 120.06       

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

International Markets

June Bund: neg with res at 122.50        

June Dax: pos with support at 4832

NK: pos with support of 9333

***********  

N.B.: if you initiate a trade using any of these numbers use a stop at least equivalent to 2 ˝%. Repeat: use stops.  Don’t 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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