Monday Trading Strategy; Manufacturing News and Ben Bernanke

The James’ Report:  Day Trading Strategies for Professional Traders

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TUNE IN FOR SUCCESS:  Think of yourself as a radio when you’re trying to learn a new skill today.  We all know the sound of a crystal-clear reception to your favorite music station, and it’s easy to tell the difference when you change the dial to a station which is filled with static and disruption.   In our careers, it would be great to stay ‘tuned-in’ all day, every day, so we could focus on only the most important aspects of what makes us successful.  Instead, we find ourselves constantly changing the dial, looking for a better radio station to listen to, which seems to always lead to static, chaos and stress.  Experienced professionals know that when we try and change the dial, we need to do this very carefully, taking a step back and remember why we’re here in the first place.  Everyone has a different station they must ‘tune-in’ for the best reception, and nobody else can tell you what that is.  Today it may be a picture of your family, a favorite song, or reviewing your trading plan.  Whatever it takes today, take a step back and re-focus your ‘tune’ and spend your time today moving closer to your goals!

News from Europe & Asia for US Morning Session:

-Peripheral Euro Zone PMI data rises m/m, peripheral bond yields decline; Spain Sept manufacturing PMI hits highest level since Feb.
-Euro pares losses seen in Asia and holds above 200-day moving avg, amid the release of European PMI data
-Swiss Sept manufacturing PMI hits lowest level since June 2009, France Sept final manufacturing PMI at 41-month low
-AUD weaker ahead of RBA meeting
-Equity gains in Europe led by the Italian FTSE MIB on better than expected data
-Greek equities open higher by over 2%, amid speculation that the country’s €31B aid tranche might be approved. Greece 2013 budget draft due to be submitted to parliament later today
-Traders still on the lookout for comments out of Moody’s on Spain’s sovereign rating. In its weekly credit outlook report, Moody’s said that Spain’s bank recapitalization plan was credit positive for the banking system, but may not be enough to full restore confidence
-Commodities trade lower, amid mixed PMI data out of China

– European equity indices are trading higher, following the mixed opened. The gains come as euro zone peripheral PMI data improved m/m.

– There was press speculation that Greece could receive its €31.5B aid tranche.

– European banks are broadly higher, led by Credit Agricole, as the company confirmed the exclusive talks related to its Greek unit.

– Spanish banks have under-performed  Resource related firms are gaining, as commodity prices pare losses.

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