Europe waits on Spain/France, Crude Oil Inventories, Yom Kippur Holiday

The James’ Report:  Day Trading Strategies for Professional Traders

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THE STREAM:  Just as a stream flows down the mountain, the process of learning a new skill takes twists and turns as it develops its way through this process.  Take notice that the stream flowing with water will undoubtedly encounter rocks and obstacles on the way down into the valley below it.  Notice, the water flowing doesn’t stop and argue with each rock in its way to the valley below, it simply looks for the path of least resistance and flows right on past the obstacle.  The water flows left or right, up or down, and without any angry demands to get out of its way as it moves.  Even more, the stream flows with a sense of serenity, peacefulness, and other people around it will look forward to listening and observing.  Visualize yourself as the ‘stream’ today.  You are going to encounter problems, people in your way, but do not let these slow you down. You are a stream, move gracefully through this day today.

News from Europe & Asia for US Morning Session:

– The Jewish Community Celebrating Yom Kippur until sundown Wednesday evening.

 – Spain 10-year bond yields move sharply higher and approach 6.0%, ahead of event risks due later in the week (including budget statement and results of banking sector stress tests); Bank of Spain cautious on Q3 GDP
– Italian yields higher ahead of tomorrow’s sale of 5 and 10-yr bonds
– 3-month Euribor does not hit new record low
– French/German 10 yr yield spread widens ahead of the French’s government’s draft budget announcement.
– Germany has second straight “technically uncovered” 2022 Bund auction
– Equity markets decline amid protests in Spain and Greece, higher peripheral yields and chatter that some investors are exiting bets related to QE3
– Shanghai Composites tests the 2,000 psychological levels and closes at the lowest level since late Jan 2009
– EUR/JPY trades below ¥100 on broad Euro weakness

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