In overnight News:

• Citigroup trading higher after Citigroup receives a $7.5 billion cash infusion from Abu Dhabi. What’s interesting here is that the bonds which are convertible to stocks are paying 11% to Abu Dhabi about double what the company offers bond investors. This would give them a 4.9% stake in the firm and make them the largest shareholder behind Los Angeles based Capital Groupm\ and Saudi prince Alwaleed bin Talal.
  
• 2 year treasuries fell to the lowest level since December 2004 on the news which signals the move has calmed some of the nervousness about the subprime mess.
  
• Business confidence in Germany and France rose unexpectedly in November despite rising oil prices and a stronger EUR.
  
• ECB President Trichet along with Luxemburg Prime Minister Junker and EU Monetary affairs commissioner Alumia are in china to discuss the Yuan exchange rate and what they call an increase in protectionist tendencies which they claim are rising as a result of the currencies value. The Yuan rose to its strongest level since the peg was lifted in 05.
  
• In Asia the Nikkei is up .58% overnight followed by the Han Seng which is down 1.51% and finally the South Korea's Kospi up .24%.
  
• As of this report the major European markets are all trading lower with the FTSE down 1.36% the Dax down 1.45% and France's CAC 40 down .86%.

In the Forex Market:

• Japanese yen fell to lowest level in 2 years yesterday to 107.21 on the back of the Dow sell off and news out of china that one of the ways they want to diversify reserves is by buying Japanese equities. Japanese yen the funding currency for many carry traders strengthening on the Dow sell off and news out of china that they will be buying Japanese securities sends it to a fresh two year low against the dollar before exploding to the upside after the Citigroup announcement and then selling back off again overnight.
  
• Consolidated price movement after the run-up in EUR dollar is normally more indicative of a breakout scenario than a sell off scenario

In US Markets:

• US markets sold off significantly yesterday marking the first 10% decline in more than 10 years. More shoppers hit the stores but they spent less than they did last year. more people going out when the sales are on they want the bargains and once they are done getting the bargains they don't plan on spending more money spending fell 3.5% over last year
  
• A great analysis of yesterday’s selloff from www.inthemoneystocks.com below:
  
  
  
• S&P/Case-Schiller index due out at 9 am EST is expected to show that house prices fell for the third consecutive quarter in Q3, while the Conference Board’s consumer confidence survey due out at 10 am is forecasted to drop to a two year low. Also on the calendar for today is Richmond fed manufacturing index for November due out at 10 am and Fed Governors Plosser's and Evan's speeches at 12:20 pm and 12:30 pm respectively.
  
• Market looks poised for an open to the upside with S&P futures trading at +5 vs. fair value and NASDAQ Futures trading at +12.5 vs. Fair Value.

In the commodities Markets:

• Both crude oil and gold trading off their highs in early morning trade at $96.92 and $826.50 respectively.

Hey Dave,

Thanks for the great videos! I wanted to know about what brokers informed trades recommends; are there brokers recommended that do both FOREX and stocks, do they have a demo account available?


regards,
Jay

Hi Jay,

My pleasure thanks for the comment and welcome to the community.

We have a post on both stock and forex brokers here which you may find useful. We have also just started our free video forex course and will be going over the logistics of trading the FX market using FXCM's demo in module 2 of that course.

In general most of the larger and better known forex firms do not offer stock trading as well. Think or Swim which is mentioned in the above post has a very positive reputation among stock and options traders however and has recently launched a forex product as well. I have not heard anything about this yet however so I cannot comment one way or another on the quality of the offering.

Interactive Brokers also has both stock and forex trading as well as a firm called MB Trading. Of those two Interactive Brokers is a lot bigger, but MB Trading is better known among forex traders so you may want to start there if you are dead set on having your forex and stock account at one firm.

Keep in mind however that as far as I am aware you cannot cross margin at any firm stocks with forex so even if you trade both stocks and forex at the same firm you will have to do so through separate accounts.

Hope that helps.

Best Regards,
Dave

Thank you. FXCM seems to be very good. How does eSignal work with FXCM or do they only use the trading station2?

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Yeah as I say in that post I am kind of biased as I used to work there. I know that you used to be able to execute out of esignal with FXCM but I am not sure if that capability is still available. Give them a shout or click on the chat button on the website and if they can't give you the answer let me know and I will give the guys who used to work for me there a call.

Best Regards,
Dave

They say it cannot be done w/ esignal.

Hi Jay,

Ok they must have stopped supporting it then. One forex broker that definitely does is Gain Capital which you can learn more about here:

GAIN Capital > Forex Trading > Charting > eSignal

Best Regards,
Dave

Hey Dave, GAIN Capital does support esignal with a $1000 account min. Do you know of a broker for stock market, futures that supports esignal?

Thank you,
Jay

Hi Jay,

List of these firms here: eSignal Partners

Best Regards,
Dave

Thanks Dave! Who is the best for Stock Market, Forex Market, and Futures Markets in your opinion?