daytrades november 12 morning ...

Happy Mufti Day Traders,

DOW Snapshot from previous trading session

"Stocks sold off at the open and never looked back Thursday after a disappointing outlook from Cisco Systems dragged on the technology sector all day. Cisco (CSCO, Fortune 500)'s lower outlook for the year initially got the tech sector off to a rocky start, and stocks grappled to make up some lost ground throughout the day.

"There was a realization that the world didn't end because of Cisco," said David Kotok, chairman and chief investment officer at Cumberland Advisors. "What's really driving stock prices today, yesterday and tomorrow more than anything else, is the central bank policies of very low interest rates for a very long time."

Kotok is referring to the Federal Reserve's policy of quantitative easing -- a $600 billion bond-buying spree the central bank announced last week. The news has sent stocks trending generally upward, as investors welcome the stimulus effect of the policy." [Source: cnnmoney.com]

The DJIA Index finished the trading session Down 73.94; and
The SPI Futures are currently: Down 8 pts atm.

Of note in the US this evening:

Reuters/Michigan Consumer Sentiment Index (Nov) [High volatility expected]
[The Reuters/Michigan Consumer Sentiment Index released by the Reuters/University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. Generally speaking, a high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

...AND...

Of note in Australia today:

Please note there is no noteworthy 'Economic news' due to be released in Australia today.

Gold is currently trading Up $5.50 & is sitting at US$1,408.90/oz atm [Source: Kitco]
Oil is currently trading Down $0.05 & is sitting at US$87.76/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9972 cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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