July 24, 2012
- in Uncategorized by schooloftrade
Bears out in Europe, Chinese News Disappoints, US preps for Manufacturing Reports
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The James’ Report: Day Trading Strategies for Professional Traders
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IDENTIFY THE FUTURE: Many new traders believe that trading is all about predicting the future, and making profits from it. More accurately, professional traders work hard to identify the changes that have already occurred, using that understanding to exploit new opportunities for profits. Don’t worry about predicting what will happen tomorrow, and certainly don’t worry about what you do not understand at this moment. A professional trader focuses on the most recent information and uses it to make easy profits in the future. —————————————————————————————
News from Around the Globe Overnight:
– China July HSBC PMI Manufacturing at 5-month high but still registers its 9th month of contraction
– Moody’s cuts core EMU AAA-rated outlook including Germany to negative; change is due to increased likelihood of a Greek Euro exit and need for greater financial support for the weaker nations
– Fed’s Raskin: Expects to talk about QE3 at the next FOMC meeting
– The big picture ideas for saving the Euro currency will take years, not months, to come to fruition – but the threat of collapse is immediate
– Spain Bill auction results relatively smooth
– Major European PMI data mixed with Manufacturing at 3-year lows
– Moody’s cuts core EMU AAA-rated outlook including Germany to negative; change is due to increased likelihood of a Greek Euro exit and need for greater financial support for the weaker nations
– Fed’s Raskin: Expects to talk about QE3 at the next FOMC meeting
– The big picture ideas for saving the Euro currency will take years, not months, to come to fruition – but the threat of collapse is immediate
– Spain Bill auction results relatively smooth
– Major European PMI data mixed with Manufacturing at 3-year lows
– European equity markets opened the session higher, following the sharp losses seen on Monday’s session. However, equity indices have since pared gains amid losses in the Spanish and Italian equity markets.
