Options Expiration Friday Trading Prep

Professional traders are the rulers of their own kingdoms, and there are many responsibilities that come along with this that we need to be aware of.  Every kingdom needs rules, and every trader must have guiding personal principals that lead the way.  A king must develop policies on domestic issues, and traders must learn to stay healthy in both mind and body.  A king must put forth foreign policies, just like a trader must consider how he/she will interact with others during their career.  Too many laws lead to confusion, and too few rules can lead to lack of direction.  As a professional trader YOU are the king, and you have complete authority over your personal and professional life.  Keep this in mind as you survey your ‘kingdom’ today.

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The James’ Report:  Day Trading Strategies for Professional Traders

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What happened Overnight:

– Today is OPEX Friday, the last day of the month before Options Expire on Saturday.

– Crude Oil Futures expected Contract Rollover before Monday

– Highly-Anticipate Facebook IPO is expected to set Wall Street Records on Friday

– Moody’s cuts 16 Spanish banks and Santander UK (as expected)
– Moody’s cut 4 Spanish Regions
– Fitch would place all Euro-zone sovereign ratings on Rating Watch Negative (RWN) following the Greek elections should the risk of a Greek exit from the EU seem probable in the near term.
– G8 Summit at Camp David; market seeks guidance 
– ECB and EU said to be working on emergency scenarios for Greek euro exit 
– Recent Greek Poll shows pro-bailout parties regaining a majority in Parliament 
– Spain’s banking sector said to be calling on market regulator for renewed ban on short-selling

read the complete morning prep here