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<p>[QUOTE=&quot;tradingadvantagetm, post: 1996023, member: 72270&quot;]I had high hopes for Monday’s trade when I said “Are enough traders home from their holidays to make for good trading Monday?&nbsp; 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.”</p><p><br /></p><p>Sadly, it was not a good trading day; volume was still low; volatility was non-existent; and news was plentiful but the entire intra-day range was less than 10-points.&nbsp; 100% of the day’s gains were put in at the open – it was all done on Globex.</p><p><br /></p><p>The ISM manufacturing report in the morning was good, but not good enough to extend the huge gains of the pre-open session.&nbsp; Consensus for this report was for a reading of 53.2, but the actual number was 53.9.&nbsp; A reading above 50.0 indicates an expanding manufacturing sector.</p><p><br /></p><p>Some analysts had expected this good reading because it was the report that covered the end of the year.&nbsp; And what’s important about that are the many expiring corporate tax incentives and credits of 2011 that businesses made sure they received by bringing production forward.&nbsp; Here are a few; Credit for Construction of New Energy Efficient Homes, New Markets Tax Credit, 15 Year Straight Line Depreciation, 100% Bonus Depreciation, and many more. They have now expired.</p><p><br /></p><p>In other news, the USSA is now officially a banana republic.&nbsp; As of today, the US Treasury admits that it owes more than 100% of the USSA’s GDP in debt.&nbsp; To be specific, our admitted-to debt to GDP ratio is now 100.3%...not including the $100+ trillion in unfunded liabilities that the government refuses to count, yet refuses to cut.</p><p><br /></p><p>Trade well and follow the trend, not the so-called “experts.”</p><p><br /></p><p><b>Larry Levin</b></p><p>Founder &amp; President- <a href="http://www.tradingadvantage.com" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.tradingadvantage.com" rel="nofollow">Trading Advantage</a>[/QUOTE]</p><p><br /></p>

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