Friday 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.

Here’s yesterday’s E-Mini wrap up video. No comments necessary – the Zero Lite pointed the way without fail, just watch the signal signal throughout the session.

The E-Mini is stuck between its 25-hour and an hourly NLBL. Use it to get positioned before the open.

AUD/JPY – kissing its own 25-hour – NLBL above, which may bolster resistance.

EUR/CAD at 25-hour and a NLSL – it recovered from a drop through the SMA, so let’s see if it can hang on or if this is the beginning of a little correction.

EUR/USD – ditto! :-)

USD/JPY – this pair is really growing on me (in unsuspected places!). Nice touch of the 25-hour here – long with a stop below the steeply rising SMA.

Crude – at its 25-hour – looking a bit weak but it may be faking it. Wouldn’t be the first time…

Cotton – also at the 25-hour (someone must have sent out a memo earlier today) – great spot to get positioned.

Gold – wedged between SMA and NLBL – looks very much like the E-Mini – who would have thunk?

Silver – ditto!

Corn – 100-hour SMA and 25-hour SMA touch – excellent spot to get long with a stop below both. Failure would initiate a correction.

Soybean – I guess it’s just going with the script today. Same idea as with all of the above.

Have fun! :-)

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Cheers,

This entry was posted on Friday, January 18th, 2013 at 8:42 am. Both comments and pings are currently closed.



  • http://dartht.blogspot.com/ Darth_Gerb

    gold futures on the move since 8:10
    now excuse me while I watch the video.
    -Gerb

  • Joe_Jones

    Bucky’s on fire this morning

  • http://evilspeculator.com molecool

    go bucky go!!!

  • http://ibergamot.blogspot.com/ i Bergamot

    http://www.solarcity.com/
    Lyndon, Peter and “ma niga” Elon Musk managed to put together one helluva company.

     No shit, this is actual picture from their website, and it gives me
    real pleasure to see young faces of their management team. I am a pretty
    good  face reader, and I am smiling looking at these boys and
    girls.
    No indicators, so support/resistance, no earnings, no price history.
    Bought half of position, will add more , much moah…

  • AmazingLarry

    Copper bounced off it’s fabled volume glutch, held the 100 and now a couple ticks above it’s daily NLBL. 

    Thanks to Sky, I got the net-line script into TOS. Still haven’t been able to figure out what the arrows mean. The arrow shows up when the net line is elected?

  • http://evilspeculator.com molecool

    I guess the crew here is already celebrating MLK day. As if we needed yet another long weekend – sheesh!! Can’t wait for spring/summer – grrrr…

  • Skynard

    Weeeeeeeee! There goes the /OJ:)

  • Skynard

    Yes, those arrows are confirmation.

  • itslance

    Thanks for the heads up, but have you seen their financials for the last two quarters?  Plus solar companies have been going out of business like hotcakes lately.

  • captainboom

    I figured it would be quiet today, what with the run earlier in the week and weekly opex.  I’m whacking away at some options analysis scripts.  Since I don’t have mad skillz with unix, it takes some time.  Nevertheless, I have one eye on the Zero, as usual.

  • http://ibergamot.blogspot.com/ i Bergamot

    You must be reading my mind.
    Why do you think I only bought half?
    There is one serious point to consider: very soon this will be the biggest private energy producer in USA. Variant perception?
    That aside, IPO went out at much lower price than originally planned and as of today 13-13.50 area is a support. This is only price point that matters to me now, we will have more info (technical and fundamental) soon. Think about it, nobody knows a thing, but price keeps going up

  • ridingwaves

    I ment’d PATH a couple wks ago…They rec’d fda approval for migrain patch last nigt..It looks like it’s being pushed down for shorts to get out…might be a play if bids start turning and u get lost in the volume….

    or MM’s might just hold it down here and accumulate for pop…

  • Rightside_ot_trade

    Got out of yesterday’s CT short and flipped
    But Weekly upper 25 BB ~ 78.3 is also very close to daily 100 UBB

  • http://dartht.blogspot.com/ Darth_Gerb

    I’m sorry, but faces & money do not necessarily correlate IMNSHO.

    http://cdn02.cdnwp.thefrisky.com/wp-content/uploads/2010/09/01/jamie_lee_curtis_activia_m.jpg

    read this face. ;-)

  • http://ibergamot.blogspot.com/ i Bergamot

     I stand by my opinion, that management of SCTY are young, ambitious, driven young people. In finance it’s bad, in service/manufacturing it is a combination that been changing the world thru-out history. Look up Elon Musk and see what he did, and what he set out to do.
    Having said that, my stop is below most recent low, until further instructions

  • http://dartht.blogspot.com/ Darth_Gerb

    ok ok.
    just remember

    Youth and exuberance is no match for age and trechery.

  • badflightrisk

    coal having a nice move up after the gap fill

  • ridingwaves

    Vix hit 13…one more push and mole’s date with vega is set…

    I hear she’s hot…what happens in ES stays in ES…

    Silver nearing 32, out at 32.25…come on baby…

  • http://ibergamot.blogspot.com/ i Bergamot

     Fuck old people
    World of the future belongs to young. Young of heart and mind. They don’t know what is impossible, they don’t know not to charge, they think they will never die… Do that and you will never grow old
    (iBergamot grabs oxygen mask)

  • http://ibergamot.blogspot.com/ i Bergamot

     Also SLX

  • http://dartht.blogspot.com/ Darth_Gerb
  • http://dartht.blogspot.com/ Darth_Gerb

    man /ES is looking droopy.
    but it’s the end of amateur hour.
    my 10min candles are hovering over the MA200.

    let’s watch and see.

  • Skynard

    VIX tagged 13, here we go. Mole arrows should be effective if the trend has changed:)

  • ridingwaves

    She’s cute for a redhead…
    Miners haven’t caught up to silver move…NUGT is looking ripe…will wait for Monday to see what next move is…
    I have also noticed that the reits and index’s tied to reits are starting to show up near the top for selling on strength…lots of block trades..this smells of distribution….

  • Skynard

    Nice trade RW!

  • BobbyLow

    “Fuck old people

    World of the future belongs to young. Young of heart and mind. They don’t know what is impossible, they don’t know not to charge, they think they will never die…”

    Easy now, I “resemble” that remark.   

    There’s also an old saying that “Youth is wasted on the young”.

    When I was in my 20′s, I knew everything,

    When I was in my 30′s, I knew a little less.

    In my 40′s, I knew even less but wanted to learn more.

    By the time my 50′s came I looked back at my 20′s and realized how stupid I was back then.

    Now that I’m in my 60′s I still don’t know shit but feel good about it.  :)

  • http://ibergamot.blogspot.com/ i Bergamot

     40′s here and completely agree up to this point.
    Looking forward to 60′s…lol

  • http://dartht.blogspot.com/ Darth_Gerb

    75 today in Phoenix.
    Spring in the desert is just weeks away.

  • http://ibergamot.blogspot.com/ i Bergamot

     Music to my ears. Bergamot is a southern fruit, you know

  • AmazingLarry

    JAG on the squeeze…kinda, sorta, maybe.

  • ridingwaves

    JRCC could be a 50-180sma cross in making…would like to see it capture the 50 for a couple days…

  • ridingwaves

    .74 is 50sma…volume is great…hmmmm lking at AUMN also..thanks for heads up

  • AmazingLarry

    I think Mole’s “best friend” will be the the tell. Why worry, stocks are the best place to be since 1929. Lol.

  • http://dartht.blogspot.com/ Darth_Gerb

    i’ve been watching REITS.  I sold MORT too soon.
    and yes, NUGT is something to watch.  strange animal, not gold, not quite stock.

  • Skynard

    Full short now at VWAP.

  • itslance

    I’ve been sitting the morning out because the VIX has been dropping with equities.  I missed some good technical entries, because I was thinking it was a trap.

  • Skynard

    flat on the div

  • Joe_Jones

    VIX at 12.99 ;-)

  • Skynard

    Killing my puts, WTF! Head games:)

  • http://evilspeculator.com molecool

    VIX 12.98 – come to daddy :-)  

  • itslance

    What is significant about 12.98?

  • Ronebadger

    where do you want it to be?   or do you just want it to keep dropping?

  • http://dartht.blogspot.com/ Darth_Gerb
  • Skynard

    She’s going to blow, bear flag 5 min:)

  • Schwerepunkt

    It’s a riddle: VIX dive mode! But equities are not rallying. 

  • ridingwaves

    12.86

  • bdoone

    Think of Braveheart when the army was advancing on him: ‘HOLD, HOLD, HOLD’…then unleash the VOL!

  • ridingwaves

    so the vix is the 20 ft lodge pole pines sharpened to take down the MM horses….

  • itslance

    12.84!  What’s the lowest you guys have seen it?  How’s everyone planning on playing this?

  • http://evilspeculator.com molecool

    It’s smaller than 13 :-)

  • http://evilspeculator.com molecool

    I’m planning on strapping a manual short order to a chicken. Then I’ll let it loose on the NYSE and see what happens.

  • itslance

    Lol…I suppose I had that one coming :)

  • http://evilspeculator.com molecool

    12.71 – someone please pinch me. Any takers for single digits?

  • itslance

    It’s about to hit the lower BB on the 100

  • http://ibergamot.blogspot.com/ i Bergamot

     It’s a bull market, you know

  • itslance

    12.56 – Exhaustion gap?

  • captainboom

    ROFL!  Made my day Boss.

  • Skynard

    Unreal, in the upper BB, div and short again.

  • itslance

    I’m positioned, got my popcorn, and ready for the fireworks :)

  • itslance

    LOL!

  • http://dartht.blogspot.com/ Darth_Gerb

    that’s what she said.

  • http://evilspeculator.com molecool

    12.45 :-)

  • http://dartht.blogspot.com/ Darth_Gerb

    stand back and let it burn.
    it’s OpX ya’know?

  • Skynard

    Straight up blow me squeeze:)

  • itslance

    Soooo….if we close outside of the lower 100 BB, is that step one of a Super-VIX-Sell-Signal? :)

  • http://ibergamot.blogspot.com/ i Bergamot

    FB goes the other way, I guess stops below 1/16 low has to be taken out first.
    Bots will be all over this. Next support 28.50ish, resistance 30.50 for sure

  • http://evilspeculator.com molecool

    Good – that’s what we want.

  • bdoone

    BB way down at 10…not only is the bus empty, even the driver got off.

  • http://evilspeculator.com molecool

    Inches, mofo!

  • http://dartht.blogspot.com/ Darth_Gerb

    but you’re on the metric system.

  • http://dartht.blogspot.com/ Darth_Gerb
  • bdoone

    Very interesting observation indeed, and I think a subject worthy of discussion.  We usually use 20 period BB for VIX buy/sell signals.  Hell, just 3 wks ago we were above the 100 BB, very rare.  As far as being below the 100BB, the last time I found was Dec. 2010.

  • BobbyLow

    If I remember correctly, the Vix was in single digits in 2004.  And I believe that the way the market has been grinding on a road to nowhere over the past few days was the way it was for most of the entire year of 2004.

    It was as much fun as going to the Dentist.  :)

  • AmazingLarry

    When the SPX finally broke it’s upper TL resistance in ’06 the VIX broke below 12 and eventually bottomed at 9.39. We’re almost in the exact same position right now. See charts…

  • http://dartht.blogspot.com/ Darth_Gerb

    the vix went silent for several years.
    I blamed it on the iraqi war.  but let’s ignore that.

  • badflightrisk

    Tvix has had one green day since 12-31

  • http://dartht.blogspot.com/ Darth_Gerb

    should I load up on some UVXY?
    it can’t go that much farther down can it?

    good god, look how far down in 2 months.

    that was rhetorical, depreciating asset, look at the 2 year chart.

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤ø„¸  N E W  „ø¤º°¨ 
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • Skynard

    Ran the stops above opening cande.

  • bdoone

    When I left the the floor as a market maker in 2003 (work related injury if you can believe that) I kept in touch with my MM friends who loved to tell how they were killing it 2004-2007 just doing buy writes and collecting premiums on options and $ on stocks move up and selling put spreads.  Of course traded bigger size as they got greedy with all the ‘free’ money.  Most got hurt but survived beginning of the crisis and gave back a bunch…then almost all got destroyed on collapse…selling vol with VIX at 30-40.  How high could it go after all? Only 80. 





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