Top Day Recommendations

06.03.09

ADP private jobs forecast comes in worse than expected at -532K, 40K more than previous month. Of course, we get the US unemployment report on Friday. Then there’s factory orders and the ISM survey at 10 and oil inventories from The Department of Energy at 10.30

Going into today’s session, many markets were at or were approaching overbought levels: stocks, EC, gold, etc.

Fed Chairman testifies at 10.

Euro stocks lower on ideas that rally is outpacing earnings prospects. Euro zone unemployment at 9.2% .

Current views, speculations and suggestions

June Yen: neg with res at 105.15
June Swiss: positive with support at 93.45
June EC: pos with support at 141.68
June Canadian: positive with support at 91.50
June BP:  pos with support at 164.00.
June ES: pos with support at 927.50
June NQ: pos with support at 1464
June Russell: pos with support at 518
June Mini Dow: pos with support at 8647
Aug Gold: positive with support at 974.00
July Silver: pos with support at 15.60
July crude: positive with support at 66.90.
July Soybeans: positive with support at 11.90
July Wheat: positive with support at 6.52
June Ten Year: neg with res at 118.01

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International Markets

June Bund: pos with support at 118.75
June Dax: pos with support at 5066
NK: pos with support at 9690

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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%. 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.