Day Trading Strategies for Dollar Index , Euro, Crude, Russell and Gold futures

The James’ Report:  Day Trading Strategies for Professional Traders
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Keep it simple;  the best traders in the world understand two
simple truths.  First, the most
sophisticated trading strategies are always the simplest.  Second, the biggest achievements come from
accomplishing the smallest of tasks. 
Keep it simple today, and resist the urge to over-complicate your
trading for the best results.  You may
not see the results you are looking for today, but keep doing the ‘little
things’ right and you’ll be there soon enough. 

Futures Markets Heat Map

–
European shares traded lower following China’s cut its FY12 GDP growth, as
speculated in the press. PMI data from the Eurozone were also lower than
expected.

–
China’s leadership officially lowers its 2012 GDP targets to 7.5% from 8.0%
prior
–
PMI Services data mixed in Asia; mainly softer in Europe (Germany the
expectation)

–
Euro Zone Jan retail sales post first monthly rise since Aug 2011

–
Greece PSI swap continues to remain uncertain

–
India bans cotton exports, effective immediately

Speakers:

–
France Fin Min Baroin commented that the country did not have the means for
stimulus spending

–
ECB’s Gonzalez-Paramo commented that the Euro was not in crisis

–
Spain Econ Min de Guindos commented that he saw the country’s unemployment
levels to decrease in the last quarter of 2012

–
China’s National Development and Reform Commission (NDRC) commented that
slowing economic growth was in line with expectations and to help ease
inflationary pressures in the country. The agency noted that itslong-term
economic fundamentals remained unchanged

–
China Top Economic Planner Zhang Ping commented that the country’s GDP target
of 7.5% remained too high (comments echo PBoC advisor Li)and was confident in
controlling 2012 inflation. He did stress remaining vigilant on any rebound in
inflation as imported inflation remained a risk

–
India Central Bank Dep Gov Gokarn commented that high oil prices were emerging
as a risk to inflation and that its monetary policy continued to be guided by
WPI. -He added that the timing and magnitude of policy easing to be conditioned
by new emerging risks.

–
German CDU/CSU official Schockenhoff on Russian election results: There were
obvious irregularities which raised serious concerns

–
Netherlands PM Rutte: There is no guarantee that budget cut talks will be
successful

–
German investor lobby group DSW said to be against recommending participation
in the  Greek PSI deal

–
Russia said to have refused China’s request to double crude oil deliveries via
the Espo line

–
Japan Foreign Min Gemba commented that it was close to deal with US on cuts to
Iranian oil imports with a possible deal being achieved in March

–
Risk aversion sentiment was on the rise as the trading week began with
lingering concerns simmering on the Greek PSI debt swap and concerns over the
global growth outlook. China’s downward revision of its 2012 growth outlook was
highly anticipated but reality of the first cut in eight years on the official growth
target highlighted that fragility of the global growth outlook – particularly
with elevated oil prices.

–
The EUR/USD fell to two-week lows of 1.3160 by the mid- European morning due to
softer PMI Services readings but found the means to move back above the 1.32
handle by the NY morning. Better Jan retail sales data for the Euro zone was a
factor in the pair’s retracement.

Political/ In the
Papers:

–
Credit ratings agency Moody’s comment on various European issues in the
periodic review. It was reported that additional LTRO by the ECB was seen as a
credit-positive. The ECB ban on Greek collateral raised risks for banks.
Regarding the European referendum, the stability treaty by Ireland is a
credit-negative, with the vote placing future financial aid at risk for the
country.

–
Moody’s also cut Greece’s sovereign rating to ‘C’ from ‘Ca’ without assigning
an outlook to the ratings. Today’s rating decision was prompted by the recently
announced debt exchange proposals for Greece, which imply expected losses to
investors in excess of 70%. This is consistent with Moody’s criteria for a C
rating

–
In a recent opinion poll conducted by the Sunday Independent/Millward Brown
Lansdowne, over a third of Irish voters have the position of ‘wait and see’
regarding the fiscal compact referendum, and nearly a quarter indicated their
vote is conditional and want bailout term renegotiated before they vote yes.

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Today’s Economic News:

–
8:30 (SG) Singapore Feb Purchasing Managers Index: 49.4e v 48.7 prior;
Electronics Sector Index: 50.8e v 50.5 prior

– 10:00 (US) Feb ISM
Non-Manufacturing: 56.2e v 56.8 prior

–
14:00 (US) Fed’s Evans
–
16:00 (NZ) New Zealand Government Financial Statements    
–
16:00 (CO) Colombia Jan Exports FOB: No est v $5.5B prior
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