Spanish Bank Tests, Consumer Sentiment, End of Quarter Day Trading

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The James’ Report:  Day Trading Strategies for Professional Traders

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PATTERN OF ENERGY:  What are you made of?  A scientist would say you’re an organism made up of trillions of cells, each containing molecules and atoms, which are always changing.  In other words, from a microscope we’re constantly changing, evolving into a pattern of energy that shapes the body into what we are today.  Our bodies are always evolving, never in the same place today as we were yesterday, so why would our trading career be any different?  Professional traders can all reflect on earlier times in their careers when they knew less, wanted to do more, and had to evolve into the trader they are today.  The more we understand about these patterns of energy, the more we appreciate the opportunity to be successful as a professional trader.  Every day we make money in the markets is a byproduct of the work we put in 6 months ago, just as much as it is the effort we put forth today.  We are always learning news ways to use the same old techniques, new personalities to every market, and new ways to capitalize on the opportunities we see today.  Take a moment today to pause and think of the miracle that has occurred for you just to be alive today, and then remember that you’ve worked very hard to get where you are, so let’s make the most of today’s opportunities!

News from Europe & Asia for US Morning Session:

-Spanish bonds trade cautiously ahead of bank stress test results
-Prior reports have suggested that Moody’s review of Spain’s Baa3 sovereign rating is due at the end of Sept
-Spain continued to see capital outflows in July
-Overall, European government bonds are trading in a subdued manner going into month and quarter end.
-French yields steady ahead of budget announcement
-According to Fitch, US money market funds (MMFs) slightly raised exposures to euro zone banks in Aug, with a focus on shorter maturities
-Euro Zone Sept prelim inflation comes in hotter than expectations
-ECB Q2 money market survey shows that shorter-dated unsecured activity was most prevalent
-China money market rates move lower by over 80bps, following record cash injection by PBoC.
-Shanghai Composite extends gains amid hopes for additional support measures
-Yuan hits highest level against the USD since 1993, following speculation that the upcoming Chinese holiday has led to more domestic demand for the Chinese currency.

– European equity markets opened the session with slight gains, amid some initial relief following the Spanish 2013 budget statement, but trading has been subdued going into month and quarter-end. Also, markets have remained cautious ahead of the results of the Spanish bank stress tests. Banks are broadly higher and outperformers include Barclays and Commerzbank. Resource related companies are gaining, amid the rise in commodity prices.

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