We were joined by a veteran trader and good friend of ours, Bill Costarides, to share some of his thoughts following the steep decline in the markets today. Bill is the head of International markets and trading during the Globex session for DTI and also runs a service providing trading commentary on the overnight futures market. Bill said to continue to watch Italian Bonds yields especially as long as they are above 6.5% - 7%. Another important market to watch is the the Euro currency. If the Euro is declining that shows weakness out of Europe and fear for the overall market. We saw some heavy selling coming out of other European Banks. The last ESFS bond auction received very little attention with everything going on in Greece and Italy. This AAA rated fund that was trying to raise 5-6 Billion was only able to raise 4 Billion which shows considerable fear in the markets. Germany and UK Industrial production continue to contract so there are definitely multiples land mines sprinkled throughout the market. To hear the rest of Bill's commentary please see the video below:
“Trade, Talk, Learn – Cheers to Success”
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