11.27.09

No eco releases today but markets extremely volatile anyway. Dubai debt reschedule really shook up the troops in an illiquid moment due to the holiday. Check with trading desks about potential early closings. Gold going into first notice day. Europe starting to rebound.

Current views, speculations and suggestions
(good till close of business today). These are technical in nature only, not fundamental.

Dec ES: pos with support at 1065
Dec NQ: neg with res at support at 1713
Dec Mini Dow: pos with support at 1098
Feb Gold: Dec going into 1st notice. 84 RSI should have concerned complacency. Dubai debt rescheduling was a left hook the market never saw. Market below support of 1175 basis Feb
Mar Silver: neg with res at 18.45
Mar Copper: pos with support at 305
Dec Yen: pos with support at 113.70
Dec Swiss: pos with support at 98.35
Dec EC: pos with support at 148.55
Dec Canadian: neg with res at 94.65
Dec BP:  neg with res at 166.60
Dec Aussie: neg with res at 92.50
Jan Crude: neg with res at 77.50
Jan Soybeans: pos with support at 10.26
Mar Wheat: neg with res at 5.79
Dec Ten Year:  pos with support at 120.21
Dec 30 Year : pos with support at 122.17
Mar Eurodollar: neg with res at 99.64

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International Markets

Dec Bund: pos with support at 123.00
Dec Dax:  neg with res at 5740
Dec NKD neg with res at 9370

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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. Some find it appropriate to look at the margin requirement and use that as a stop or if it’s 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.