August 15, 2011
- in Uncategorized by schooloftrade
Day Traders Prep for Key Manufacturing and Housing News
—————————————————————————————
The James’ Report: Professional Resources for Professional Traders
—————————————————————————————
– Crude Oil Prices tumble ahead of Important Manufacturing Index news this morning
– Gold Futures tumble as traders place their bets on the US Dollar Index strength, Equities rise across the globe this morning
– Some normality returns to the markets in today’s session after a crazy end of last week
Interesting news….
– Investor George Soros suggested that it might be beneficial for Greece and Portugal to eventually leave the EU. Soros recommended an orderly exit for both countries, as both countries have had difficulty reaching their austerity targets. He also believed that Eurobonds would be beneficial for the EU. He has no plan to bet against the Euro, and believes that China will do everything possible to help preserve the Euro.
—————————————————————————————
Today’s Economic News:
Looking at the news this morning we get our trading week started with important manufacturing data from New York State. 830am we have Empire State Manufacturing Index, followed by 900am Long Term Tick Flows, and then later this morning we have 1000am Housing Market Index.
Today is a summer Monday so we will stay patient for volume this morning after the 830am news, and look for the best moves coming a little later in the morning as traders come to their desks after a summer weekend. We do not expect a Golden Lunch today while trading in the summer months. Look for volume to dry up quickly after 11am est.
—————————————————————————————
