Mondays are made for Weekly Prep, no major news in the US ahead of FOMC Day

The James’ Report:  Day Trading Strategies for Professional Traders

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HUMAN SPEED:  When was the last time we decided to walk, rather than take an automobile to the market, or to the office?  Have you ever tried walking the same route you normally take in a car?  Have you ever noticed new things along the way when you’re walking at ‘human speed’ rather than at speeds in a car?  I notice many things new every time I walk somewhere, and it’s not just because things are easier to see than from the driver’s seat on the highway.  Our minds process information must easier at human speed, rather than highway speed, and the same applies to our trading.  If we try to learn this skill at highway speeds we won’t comprehend this information as well as if we learned at human speed.  So what is human speed for a trader?  There is no one correct answer, but you will know it when you get there.  Find the time today to slow it down, take some time to understand what you’re seeing.  We invest countless hours watching charts; let’s get the most of it today.

 News from Europe & Asia for US Morning Session:

– European equity indices opened the session broadly lower, ahead of key events for later this week, including the FOMC decision (Sept 13th) and Germany’s Constitutional Court ruling on the ESM (Sept 12th).

– China trade date shows weakening domestic engine and tepid exports; confirms outlook worsening.
– South Korea Fin Min Bahk unveiled new fiscal stimulus package estimated at approx KRW4.6T for 2012 (~$4.1B) 
– Investor George Soros: Germany must lead creation of political union or leave single currency
– IMF strongly backs ECB’s Draghi bond buying plan. Spain Italy already doing enough.
– Expectations for the Fed are around. 60% for more QE at Thursday’s FOMC meeting with $200-$300B in new bond purchases eyed and rates near zero into 2015.
– Moody’s: ECB debt purchases can buy sovereigns some time but saw little new in the bond buying program and a number of uncertainties
– More German legal challenges for ESM and ECB

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