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Archive for September, 2012
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September 30, 2012

The Big Picture

Exactly one year ago yesterday Volar posted a his presidential election chart. Although he’s been sorely absent in recent months his chart (among other things) has served us very well:

I have asked him for an updated version and he graciously donated the whole McCoy:

In the past year this chart continued to be eerily accurate – including the correction between April through June I may add – albeit a little delayed. Here’s Volar’s comment:

It still appears to be working and (1) looks like we will enter the next cycle with (A) obama/look at intrade and (B) with a bull momo cycle. I believe that is not very bullish for [...]

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September 28, 2012

End Of Month Session

It’s the final session of the month and instead of preparing for October I have been busy putting out technical fires all over the place today. My apologies but as the old saying goes – when it rains it pours. Nevertheless the show must go on and I managed to collect quite a few charts. But first some house cleaning chores:

Corn – touched support this morning and gave us a picture perfect entry. Although we still have a few handles to go until our first target I strongly recommend you guys take profits. Don’t you wish it was always this easy?

USD/CHF – you may remember the ID entry last week and it’s time to take [...]

 
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September 27, 2012

Setups Galore

It’s raining in Valencia today and on the trading front it’s raining setups. We’ve been busy beavers this morning and already reaped some fine rewards. But frankly that is thwarted by the sheer flood of excellent setups I see in the works right now. Yes, some of our recent trades – e.g. crude – got taken to the cleaners. But that’s how we roll – if the market takes a turn we don’t ask questions and shift our positions accordingly.

If you remember – the spoos held right at the 25-day SMA yesterday and it seems buyers paid attention. We had a possible floor in place but before we can think long I would like to see [...]

 
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September 27, 2012

Thursday Briefing Update

Thus far a rather productive day – here’s what happened since I posted a few day trade setups this morning:

Gold – great entry at the Maginot Line this morning and we are at target. I am scaling out there as we are touching ST resistance.

Crude – well, it stopped me out of my existing short once it breached that 100-hour SMA. Long now with a stop below.

AUD/USD – nice entry there and it’s on its way. Target near 1.047.

Dollar – this one swung both ways. I only grabbed the upside but I’m showing that trading the resulting drop would have worked as well. Admittedly a difficult [...]

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