07:30am   Just sent off my daily ‘Trading-Guidance’ email and I’ll be around the house for most of the day due to various meetings so I will report back here with any trade I get into.

Market Update:

Markets have turned bearish with the overnight Asian indices all ending in the red following falls yesterday in Europe first and then the U.S.  Wednesday’s initial optimism for equities quickly fizzled out after encouraging jobs numbers data was released by the Bureau Of Labor Statistics early afternoon and we’re in the usual situation where good news is bad for the markets. Next week’s Fed meeting is widely thought to agree to hold interest rates on hold but the recent encouraging economic news is making traders and investors jittery hence the extreme up and down moves in the market at the moment although looking at the S&P 500 index earlier shows an overall bearish outlook the moment.

Crude oil values continued it’s fall yesterday on rumours that U.S. Crude Oil Inventories are going to show a decline later today and it ended Wednesday’s session down $1.65 at $45.00 with UK Brent Crude following suit as usual and there’s still no real sign of OPEC members cutting production even though they keep talking about it.  Gold also continued it’s bearish trend yesterday and was down nearly $15 at $1107 on India’s statement that it was going to cut imports in the next few months although with equity markets falling we may see a support level forming soon as bargain hunters come in.

Trading Diary:

08:05am   Nothing to report with regard to trading opportunities yet as the European markets get going, I have two meetings now so I’ll take another look in a couple of hours.

11:30am   Just checked and there are no trade opportunities so far on my favourite charts so I am off for a cycle ride for a couple of hours.

15:05pm    Back from lunch but not much time to watch any charts now as I have a couple of meetings on Skype running up until tea-time.