5% - 10% profit per day trading

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Dollar bounce back

NEW YORK (Dow Jones)--The dollar recovered from a one-month low against the
euro Tuesday on a decline in U.S. stocks.

Dropping stocks usually support the U.S. currency, as traders reverse riskier
bets back into the major funding currency of those positions.

The euro fell to an intraday low of $1.3282, after earlier hitting its
highest level in one month, $1.3439.

Improving economic fundamentals have been encouraging traders to take on more
risk. But caution prevailed in afternoon New York trade, vulnerable to swings
in relatively thin conditions after the exit of European desks.

Currency traders were also taking profits on intraday moves ahead of the
European Central Bank meeting on Thursday, the same day the U.S. government is
expected to release the results of the banking stress tests. In addition, on
Friday, the latest U.S. payrolls report will be released - and economists
aren't expecting any positive news, leading traders to hesitate in extending
previous gains.


Nevertheless, there were signs Tuesday of normalization in the market. The
euro, while down on the day, remained inside its recent range against the
dollar, against which it has been mounting a comeback over the last couple
weeks.


Sentiment has distinctly turned against the dollar overall, according to the
latest installment of the weekly International Monetary Market Commitments of
Traders report. Analysts at Scotia Capital called the data "historic" - it
showed the aggregate dollar position moved from net long to net short for the
first time since August 2008.
 
API numbers released and it is bullish for oil price if tomorrow EIA has same numbers ( which is not many times ) , anyway this gives an idea ...

crude , gasoline, dist. , Refinary
-1.0 -2.9 +1.0 83.3%
 
Quote from Blubaru_555:

basically broke even today in oil, down 200 altogether. i hope it behaves better tomorrow. it's either i'm in a funk or oil has been terrible this month, but i'm struggling. gonna try the ES, it's seeing some action at the moment.
More...

try ZB - respects support/resistance better than most futures (first time touched).
 
it seems this banks news is taking S&P down 10 points to 891
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Bank of America needs billions more, reports say

LOS ANGELES (MarketWatch) -- Bank of America Corp. will need billions more in fresh capital as a result of its U.S. government stress test, though media reports differed on exactly how much it would require.

Reuters reported late Tuesday that Bank of America would need an additional $34 billion in capital, according to an unnamed source familiar with the results.

A Bank of America spokesman declined comment, the Reuters report said.
Meanwhile, Friedman, Billings, Ramsey Group analyst Paul Miller was cited in a Bloomberg News report as saying Bank of America and Wells Fargo & Co. will need a combined $31.35 billion in additional capital following their stress tests.

Miller was cited as saying that J.P. Morgan Chase & Co. would probably be the only one of the 12 commercial banks submitting to the stress tests that won't need more capital.
 
I havent looked at the chart,
but i got a text alert yesterday saying saying oil broke above 54.26...

Was this mainly due to what happend yesterday between russia and gerogia??
 
http://finance.yahoo.com/news/World...46381.html?sec=topStories&pos=2&asset=&ccode=

World markets brush aside US stress test concerns after more better than anticipated news

LONDON (AP) -- World stock markets rose Wednesday as investor worries about the outcome of the U.S. government's stress tests of the country's 19 leading banks were allayed by better than expected economic and corporate news around the world.

In Europe, the FTSE 100 index of leading British shares was up 22.40 points, or 0.5 percent, to 4,359.34 after a closely watched survey from the Chartered Institute of Purchasing and Supply indicated that the British services sector is close to growing once again.

Meanwhile, Germany's DAX was up 8.65 points, or 0.2 percent, at 4,861.68 with shares in car maker BMW AG up 8 percent after the company reported a smaller than anticipated first quarter loss.

France's CAC-40 was up 28.14 points, or 0.9 percent, at 3,253.14 with BNP Paribas SA shares jumping over 6 percent after it reported first quarter net income above expectations.

The positive news in Europe helped offset worries about the bank stress tests in the U.S.

Concerns about the stress tests increased after the Wall Street Journal reported that federal regulators have warned Bank of America Corp. it will need to raise around $35 billion to plug a capital shortfall, way more than most expectations. The Journal cited unnamed individuals apparently familiar with the situation.

Bank executives were reportedly informed earlier this week about the outcome of the stress tests, which were designed to show how a bank would perform under different financial and economic conditions. The full results are expected to be published Thursday.

"The stress tests do suggest that the banks will need more capital but that certainly hasn't undermined European equities this morning," said Neil Mackinnon, chief economist at ECU Group.
 
100k small employment fall than expected , so tear of market and oil
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U.S. April ADP employment falls 491,000

WASHINGTON (MarketWatch) -- Private-sector employment in the United States fell by 491,000 jobs in April, according to the ADP employment index released Wednesday. The March number was revised higher to a decline of 708,000 from a decline of 742,000. The index comes two days before the government releases its estimate of April nonfarm payrolls. Economists are looking for payrolls to drop by 580,000 in the government survey, which would be the smallest decline since Octobe
 
Copper rises after ADP says fewer jobs lost

http://www.marketwatch.com/news/story/Copper-rises-after-ADP-says/story.aspx?guid={87D4BCBC-418A-4EA9-8340-AE0D432C653F}

NEW YORK (MarketWatch) -- Copper futures rallied more than 3% Wednesday after the ADP employment index showed private-sector employment fell by 491,000 jobs in April, less than some analysts had expected. Gold was slightly higher. Copper for July delivery gained 6.45 cents, or 3.1%, to $2.147 a pound on the Comex division of the New York Mercantile Exchange. Meanwhile, gold rose $2.40, or 0.3%, to $906.70 an ounce. The ADP index comes two days before the government releases its estimate of April nonfarm payrolls
 
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