Retail Sales, Crude Oil Inventories Trading Opportunities ahead today

A professional traders is always a student, and never the teacher.  As new traders we quickly learn the value the markets provide us in terms of education, enlightenment, and even motivation, which means while we are learning we stay very humble in order to become successful.  Once we achieve success as a trader it becomes more challenging to ‘remain a student of the markets’ so we do the little things every day to make sure we’re learning more each session.  Following a trading plan, reviewing your trades each day, and always looking for ways to improve are key elements to our long term success as ‘students’ of the markets we trade.
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The James’ Report:  Day Trading Strategies for Professional Traders

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News from Around the Globe Overnight:

– Risk aversion sentiment pauses for the time being as rational behavior likely to should prevail; peripheral yield steady but remain elevated
– German poised to reject the redemption fund concept ahead of any fiscal union
– China Q2 GDP might come in around 7.0%
– Italy 12-month Bill yield at highest level since Dec 2011
– German 10-year auction results seen as ‘solid’ but bid-cover a touch softer from a month ago.
– Brazil might reduce its proposed IMF funding increase unless emerging markets get a larger voice

– European equity indices opened the session slightly higher, as some dealers noted that the recent moves to the downside may have become extended. Also, prior reports related to ECB officials expressing support for bank deposit guarantees were re-circulated, while a German Press report said that Greek and EU officials are prepared to negotiate new austerity terms, irrespective of the results of this weekend’s elections (amid concerns about the impact that third elections in Greece could have). Additionally, it was reported in the German press that the Germany’s Finance Minister Schaeuble was said to have given a cool reception to the idea of a redemption fund. The €2.3T redemption fund was proposed by German government advisers back in late 2011. According to the original proposal, it was envisioned that the redemption fund would have the ability to issue joint bonds, which are not Euro bonds. 

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