April 12, 2012
day traders morning prep; international trade & jobless claims on the horizon
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The James’ Report: Day Trading Strategies for Professional Traders
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Professional traders understand the value of trading in the rhythm of the market, because once you are in the ‘ebb and flow’ of price action you can follow your plan instinctively, you can react without thinking, and you can work with the market to achieve a common goal. The secret is understanding that there is an ‘essence’ of every liquid market, and it’s our job as professional traders to find that ‘spirit’ or ‘personality’ of each market and dive right in. If you’re sitting on the sidelines you’re never going to win the game, so jump in and become a part of your favorite market’s ‘essence’ today.
***Notes/Observations from around the world***
– ECB’s Coeure helped Spanish yield off that 6% level on Wed after noting that the SMP still exists although it has been little used in recent weeks
– Australia employment growth exceeds expectations (+ 44K vs. +6Ke)
– Fed members’ quite vocal on views recently; Yellen: Variety of options remain open if further easing needed. Fed is quite willing to do what’s necessary while Bullard noted that slower Mar jobs growth did not change outlook. Lockhart: Bar high for further easing.
– World Bank lowers China 2012 growth forecast from 8.4% to 8.2%; raises 2013 GDP view to 8.6% from 8.3% (Note: China Q1 GDP data on Friday)
– Natural Gas falls $2 for first time in a decade
– Ring of Fire quite active over the last 24 hours; 7.1 quake off California and Mexico
– Italy sells upper end of expected amount in bonds with mixed results
read the complete morning prep here
Crude Oil Futures
Gold futures
E-Mini-Russell Futures
Euro Currency Futures
