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Archive for November, 2012
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Whipsaw Wednesday Wrap Up

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November 28, 2012

Whipsaw Wednesday Wrap Up

It’s been an exciting day and I’ve got a real treat for you guys tonight. As some of you mentioned in the comment section, today’s tape simply begged to be immortalized via one of our wrap up videos. I think you’ll find this one fun but at the same time very educating. Relive what shall be know as the ‘Whipsaw Wednesday’:

I think no further comments are necessary. The tape was on cruise control right after the early morning dip. It’s been nothing but textbook ever since and to you noobs this one offers many clues as to how to survive a trip to the woodshed like today.

The future is now – so don’t bring a [...]

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OTM Puts On Emotions

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November 28, 2012

OTM Puts On Emotions

Quite some emotional tape today across the board. It’s times like these that usually prompt me to slow down a little, tilt my head sideways, and with a little smirk ask ‘really now’? If you remember yesterday’s musings on market weather and honeypot periods – well, case in point! Forget about Boehner, Obama, Reid, or whoever else they’re going to trot out today to induce another whipsaw. The gyrations you just have witnessed are nothing but engineered to drive you away, to get you out of the game, to press your buttons, and of course keep you from holding technically valid positions.

But I’m not going to sugarcoat it for you [...]

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Wednesday Morning Briefing

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November 28, 2012

Wednesday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

I am seeing crucial breaches of short term inflection points all across the board this morning. Here is the E-Mini which is now trading below the 25-hour and 100-hour SMA. It seems that the 100-day and 25-week SMA combo was a bit much to overcome after axing any remaining short interest during the annual Thanksgiving week bear raping.

We are now [...]

4352
 

The Honeypot

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November 27, 2012

The Honeypot

The modus operandi in equities seems to be set to maximum shake out today. Although I see only minimal participation on the Zero indicator the E-Mini has produced some wild swings and leaves everyone guessing as to where things will proceed next. Not an unusual occurrence given that we are curling around an important inflection point.

Compared with yesterday’s signal range we are practically flatlining today. But we have seen that in the past: A spike in activity followed by a resting period which either sends stocks tumbling or via sideways gyrations positions large buyers for another leg up. You may recall my earlier post on market weather which would qualify [...]

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