The Traderszone Network

While austerity still reigns supreme over Greek society, amid resurgent refugee arrivals, still near-record high youth unemployment, record-high suicide rates, and a constant brain-drain exodus of young talent, this weekend saw a brief silver lining as the government decided to scrap the controversial special consumption tax on wine.

The measure, which not only did not meet revenue targets, but actually boosted illegal trade in wine and grapes, will be halted by the end of the year.

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This discussion keeps coming up on ET. To those of us who trade for a living, the question is silly. The answer is….daytrading is difficult. There are many endeavors which are more difficult, becoming an astronaut is more difficult, transplanting a kidney is more difficult, making the Olympics is more difficult as is becoming fluent in 6 languages, playing Paganini flawlessly by sight reading, becoming a Grand Master in a martial art etc etc.

People who aspire to these kinds of things…

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Italian August  confidence report 28 Aug
– 106.7 prev
– mftg conf 108.1 vs 108.0 exp vs 107.8 prev
– economic sentiment 107.00 vs 105.5 prev
A steady set of readings but for general info rather than price moving.

It’s the end of an era in the Great North. Eric Sinclair, President of TMX Market Insights has announced his retirement. At TMX he was responsible for leading and growing its multi-asset class data and information services business.

Without a well thought-out strategy, author Phillip Lynch says financial institutions run a daily risk not just of getting fined, but of receiving serious reputational damage if they don’t innovate.

Traders on hold until major economic data can lend guidance.

Softer equity tones as we wait for official markets to open 28 Aug
– DAX futures -0.4%
– CAC40 -0..4%
German bund futures open +5 at 164.86
In Japan the Nikkei closed down -0.01% at 19,449.90