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Archive for June, 2014
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Watch Your Six

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June 30, 2014

Watch Your Six

It’ll be a short week as many vacation deprived worker bees over in the U.S. are busy preparing for an extended 4th of July weekend. So expect low participation on the market front starting Wednesday and turning into a flatline on Thursday. Which unfortunately works against us this week as this is probably just the quiet before the storm. Since I was gone Friday I’ll start this off with a wrap up of where we are followed by a few pointers on how to get positioned and of course some short term setups:

Here’s the E-Mini volume profile. Apparently we are not only heading into a holiday weekend but we’re also in the mid of a nasty chop suey zone. [...]

1407
 

Time To Strike The Iron

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June 26, 2014

Time To Strike The Iron

We are at an important inflection point this morning and it’s time to strike the iron as it’s hot hot hot! I’m running a bit late today so I only have time to report on equities – but it’s a very good one, so pay attention:

This is what’s working in our favor right now – the GBP/JPY is still looking divergent or at least unsupportive. Could change quickly but there are no guarantees in the trading game. So let’s look at the price action on the futures side:

This is a textbook RTV-S configuration and you can play it by the rules. My discretionary style however differs a bit from Ivan and Scott which is why I [...]

2309
 

Earning My Keep

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June 25, 2014

Earning My Keep

I’d say the Mole earned his keep this morning when he kept you rats from getting emotional and chase this sucker to the downside. If you even managed to grab a few longs during the squeeze higher than you must be feeling rather giddy right now. Another bear trap averted, right? Well curb your enthusiasm – for the bulls are far from being out of the woods here. Let’s take it from the top:

As you can see the drive down pushed us against a small volume hole, which has however been filling in a little now. But it may establish a new bounce zone here which gives the bulls a chance to gather some strength. Now, I’m saying they will – what [...]

2709
 

Don’t Buy The Rumor – Sell The News

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June 25, 2014

Don’t Buy The Rumor – Sell The News

I’m sure you’ve heard by now- the U.S. economy is experiencing major shrinkage. The decline in Q1 real GDP was the largest since Q1 2009 (-5.4%) when the economy was in recession. According to Joseph A. LaVorgna at Deutsche Bank: ‘when the economy shrinks as much as it did in Q1, the economy is either in recession or about to enter one.’ Gold and bonds just popped and equities are still clinging to yesterday’s lows.

This is now officially yesterday’s news. So don’t get caught up in all the excitement. This move has already been played a long time ago – it started around noon yesterday when some of the insiders got wind of the [...]

2023
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