By Current News • May 27th, 2009 • Category: Top Day Recommendations
Top Day Recommendations
05.27.09
Fairly light news day with Existing Home Sales at 10. Then we have 3 days of treasury auctions. Rates have been backing up. Dec Eurodollars look like a blow-off top after an inexorable rally.
90% of GM bond holders failed to convert their debt to equity which moves GM closer to bankruptcy.
Current views, speculations and suggestions
June Yen: possible reversal day
June Swiss: positive with support at 91.70
June EC: positive with support at 138.74
June Canadian: positive with support at 88.46
June BP: pos with support at 158.10.
June ES: neg with res at 920.00
June NQ: neg with res at 1435
June Russell: neg with res at 509
June Mini Dow: neg with res at 8566
Jun Gold: positive with support at 938.40
July Silver: pos with support at 14.34
July crude: positive with support at 60.50.
July Soybeans: positive with support at 11.63
July Wheat: positive with support at 6.23
June Ten Year: neg with res at 119.14
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International Markets
June Bund: neg with res at 120.05
June Dax: pos with support at 4860
NK: pos with support at 9313
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N.B.: if you initiate a trade using any of these numbers use a stop at least equivalent to 2 ½%. 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.
