daytrades november 16 morning ...

Good Morning Traders,

DOW Snapshot from previous trading session

"After posting gains nearly all day, U.S. stocks tumbled at the session's close Monday, as investors remain jittery during a week with a full economic calendar.

Early in the session, investors welcomed news from Caterpillar that it planned to acquire mining equipment company Bucyrus International. A strong retail sales report also gave stocks a boost at the get-go.

But stocks struggled to hold on to those gains toward the closing bell, as investors gear up for more economic data due out later this week. Tuesday brings reports on industrial production and the latest Producer Price Index, an important reading on the price of goods at the wholesale level.

"This market never really had a lot of conviction going in, even though we had some pretty good economic data to chew on. Investors just didn't have the passion for buying stocks today," said Jack Ablin, chief investment officer for Harris Private Bank in Chicago.

Meanwhile, worries about a sovereign debt crisis in Europe are once again bubbling to the surface, after the Group of 20 meeting of world leaders last week revived jitters about the global economy. And Irish debt continues to be a sore point, even as the country's government insists that it will not need a bailout.

"We've got some problems in the euro zone that are continuing to escalate," said Phil Streible, senior market strategist with Lind-Waldock. "The economic data hasn't been all that great, and I'm not so comfortable remaining upbeat about the stock market at these levels," he added.

Stocks ended on a sour note last week, as concerns about the global economy took center stage. All three major indexes closed with their worst weekly declines in three months." [Source: cnnmoney.com]

The DJIA Index finished the trading session Up 9.39; and
The SPI Futures are currently: Down 3 pts atm.

Of note in the US this evening:

Producer Price Index [Market moving indicator]

Industrial Production [Market moving indicator]

Treasury International Capital [Merits extra attention]

Housing Market Index [Merits extra attention]

Net Long-term TIC Flows (Sep) [Moderate volatility expected]

...AND...

Of note in Australia today:

RBA Meeting's Minutes (Nov 15) [High volatility expected]
[The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.]

Westpac Leading Index (MoM) (Nov)
[The Westpac Leading Index released by the Melbourne Institute tracks nine gauges of economic activity, including share prices and telephone installations, to provide an indication of how the economy will perform. It tends to have an impact on the AUD volatility. Generally speaking, the more positive the reading, the better for the currency, while a low reading is seen as negative (or bearish).]

Gold is currently trading Down $8.30 & is sitting at US$1,360.50/oz atm [Source: Kitco]
Oil is currently trading Down $0.02 & is sitting at US$84.86/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9842 cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

PS: Btw, in case anyone's wondering ... I'm quite busy on the home front this week so if I don't seem to be posting that much on the D/T threads atm it's not because I'm ignoring any of you (lol), but rather just not trading that much this week as I have to attend some other personal things to attend to just atm. Cheers guys! (:

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