 | As expected, the final day of trading came and went last week with no action. The first day of trading in 2012, however, may offer much better opportunities. The morning session will see the ISM Manufacturing and Construction Spending data released 30-min after the open, while the afternoon session will have the FOMC Minutes released at 2pm ET.
A few markets were open on New Year’s Day in Europe as we read the following from the AP…
FRANKFURT, Germany (AP) -- Global stock markets opened a risk-filled new year still smarting from a rough 2011, as many exchanges remained closed. German and French stocks rose in light volumes as a a reading of manufacturing activity in Europe improved.
Germany's DAX closed up 3 percent Monday at 6,075 while the French CAC-40, which ended 2011 17 percent lower, climbed 2 percent to 3,222. Stocks fell in South Korea and closed flat in Taiwan.
Trading was light with the New York, London and most Asian stock exchanges closed.
Investors appeared to be reassured by European purchasing manager’s survey index numbers that improved in December from November. Activity in the manufacturing sector was up, but at levels that still show a fifth straight month of contraction.
Many of the world's leading indexes are coming off a down year. Britain's FTSE was off 5.6 percent by year end, Japan's Nikkei fell 17 percent to its lowest close since 1982, and the Standard & Poor's 500 showed zero gain.
Are enough traders home from their holidays to make for good trading Monday? That’s a close call in my opinion; however, there just may be enough scheduled economic data releases, including the Fed, to make our first day of 2012 a good one.
Trade well and follow the trend, not the so-called “experts.”
Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banksters.
larrylevin@tradingadvantage.com
Trading Advantage
(888) 755-3846 | 
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Trading Signals from the Electronic (ES) mini-SP 500
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- Algorithm positions (2)
- “Reading the Tape” positions (0) …combined Secret’s, Algo, & “Reading the Tape” total… +0.00
Click here to read our detailed results | ES 1257.75 / 1252.25
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YM 12208 / 12160
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