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.

The E-Mini is near possible ST support this morning – great spot to dip into long positions as long as the 25-hour SMA is holding up. We did have a false breach yesterday after the open which was quickly reversed. Nevertheless I would venture into short positions if we see another failure. However right now I think the momentum continues to favor the bulls.

AUD/JPY back at its own 25-hour, which has been acting like a wall. Until I get further instructions I’ll be short here with a stop above the dropping SMA. We should get resolution quickly. And yes, long on a push higher, i.e. 93.5 in the next hour or so.

Gold was looking a bit confusing at first sight until I realized that it made complete sense. We’ve got a rising channel here with the 25-hour at its center. I would use border touches as opportunities to trade the swings. Not huge momentum going on here right now though.

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Cheers,

This entry was posted on Wednesday, January 23rd, 2013 at 8:32 am. Both comments and pings are currently closed.



  • Joe_Jones

    Thanks Mole for the clear and simple set-ups. I look forward to bank coin today.  

  • Rightside_ot_trade

    Got several of those setups so far
    /ZS plagued me yesterday, so today it takes out its hourly MA and SL

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

    ES open interest suddenly jumped to 2.9mil cars.
    I maintain the view, that increase in open interest means an increased demand for shorts. I cannot believe this! People getting short into this non-stop ramp, or I am completely wrong on this “open interest” premise? I understand that correction of few percent will come sooner or later, but to make a short trade over past 2 days would require knowledge and skills I do not possess.

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

     Not sure about others, but I am long ES and EZ with a tight stops. Probably see what happens

  • AmazingLarry

    Do most of you guys purposely wait until ‘amateur hour’ is over to place trades? I find myself just say ‘yeah so what?’ until about 9:15 CDT.

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

     I am 70% invested all long, with 1 position TBT (about to be stopped out).

  • http://evilspeculator.com molecool

    ;-)

  • Skynard

    Mighty nice candle on the hourly:)

  • Skynard

    Flipped long /QG on the re-test:)

  • Joe_Jones

    ES ?

  • Skynard

    SPX, shaping up as buying seems to be drying up.

  • Joe_Jones

    Yes, I agree with you. Looks like the tip of a nipple. ;-)

  • Rightside_ot_trade

    Mole, CT is now a wait, ie not a flip,
    I’m thinking

  • Joe_Jones

    TICK range is tiny this morning

  • Schwerepunkt

    AS I thought, bank of Canada orgy at 10am.

  • Curiousmind3861

    wow look at USDCAD launch!! exit my longs from last night. :)

  • StrikeFirst

    I’ve been looking into Gann, and while I still have a lot to learn, I think I can say that 1493 on the SPX is a very important level.

    The low on 12/31 was 1398.11.

    The square root of 1398.11 + 1.25 resquared is 1493.15.

    The low on 11/16 was 1343.35.

    The square root of 1343.35 + 2 resquared is 1493.95.

    Voila!

    We’ll see, but if this level is taken out, the next stop is ~ 1512.(According to my calculations, which could be off!)

  • Joe_Jones

    hehehe. Let the fun begin.

  • Skynard

    That’s a bute:)

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

    CAD ..just a thought.
    http://s8.postimage.org/6zq1ypgrp/cad.png

    *I have no position

  • Joe_Jones

    Nice fake out to suck in the last batch of Johnny-comes-lately

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

    I call it, bang head on ceiling, fall out of upper bunk.

    http://nerdbastards.com/wp-content/uploads/2012/07/tonto.jpg

  • Curiousmind3861

    Thanks, it just hit parity a minute ago. Let the party begins!!

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

     10:16a IMF’s Blanchard sees ‘anemic’ growth in euro core

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

     Thankfully I was bored out of the euro position just now. Or any stops would be killed off by this arsehole ;)

  • Joe_Jones

    what else is new? ;-)

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

     10:24aIMF’s Blanchard: Markets may be bit too optimistic

  • Joe_Jones

    Oh no, he’s pulling the punch bowl away.. LMAO! Classic GS puppet play.

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

    Gold hourly, kick in the groin again.
    is it Jan 17th all over again?

  • BobbyLow

    Well I don’t know what the Wanker Bankers said or did today but my Forex Account thanks them.   :)

  • Skynard

    Wow, check out the call volume on 150 SPY weeklys expiring Fri.

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

    … is the Pope Catholic?

    The VIX is under Thirteen.

  • bdoone

    Wow. I see 318K, also 108K OI of the 149 call.

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

    apparently GOOG doesn’t run on lithium batteries.
    currently 747

  • Skynard

    For some reason the masses think so:) Just picked up 148 puts.

  • bdoone

    Thats huge amount for weeklies. In the 150′s I see 180K traded Thurs. morn 10:30-noon then 80K Fri morn 11-11:30.

  • BobbyLow

    Who woulda eva thunk it?

    And we have IBM holding the Dow up.

    All is well in the world.  :)

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

    Hey DG or anyone.  I’ve tried to add a few words next to my name like you have and it didn’t take.  I must have missed a step.  Would you explain how to do this again?

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

    click on your avatar, then click DISQUS on the lower right corner.
    that should bring up the DISQUS page, hover over your ICON, get a drop down, edit profile.

    select profit area/tab – then fill out Bio, click SAVE changes button.

  • itslance

    Did anyone flip to a short on the ES now that we’re below the 25hr SMA?  I have a feeling it’s going to fiddle about for a while before it makes any moves.

  • http://evilspeculator.com molecool

    Pretty kewl Mole signals today.

  • Rightside_ot_trade

    /SB just under its daily buy line and hourly 100ma
    At 18.62, long from 18.29

  • BobbyLow

    Thanks DG.  

    I think what I did before actually worked because it is showing up now.

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

     Love it
    +1

  • Joe_Jones

    hahaha

  • BobbyLow

    Thanks.  

    I stole it from Bette Davis. She’s been dead for over 20 Years and probably won’t mind.  :)

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

    cool enough for a video?  
    I know you’ve been traveling an all, but you must be rested up by now.

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

    By the Dozen.
    Many good things comes in dozens : flowers, eggs, pencils, condoms…
    How about 11 biggest stocks in the world plus biggest ETF?
    Combined market cap over 3 Trillion.
    Surprisingly, not only they (as a group) do not outperformed SPX , they are not very much correlated to SPX either. All, except Buffett and PTR are part of S and P 500.
    I am still not sure how to interpret this list. Any comments are welcome

    Note: I included PetroChina, because it’s #3 in the world now, otherwise I decided to stick with good ‘ol USofA. Used market cap data for BRK/A, included B-shares for ease of use.
    Link to candlegroup:
    http://stockcharts.com/freecharts/candleglance.html?SPY,AAPL,XOM,WMT,GOOG,GE,MSFT,CVX,IBM,JNJ,PTR,BRK/B|C|J[$SPX]

  • Curiousmind3861

    the market seems to be just drifting higher in anticipation of AAPL earnings…who here thinks it will disappoint??

  • Joe_Jones

    Aye

  • http://evilspeculator.com molecool

    Maybe if you subscribe.

  • http://evilspeculator.com molecool

    I can’t believe TOS FX charts are broken again. F..ing losers…

  • badflightrisk

      I think their going to disappointment the question is has the market already priced it in. 

  • BobbyLow

    Ya, it began again at the COB yesterday.  I called to complain and asked them why they just couldn’t go back to the registry on a date before they fucked this up and got no answer.  And why the Daily is the only one that’s screwed up is way beyond me.

    I did learn how to correct the daily candles so my call wasn’t a total loss but correcting these daily candles is something we shouldn’t have to do.

  • BobbyLow

    Oil taking a hit.

  • Joe_Jones

    LOL..OL!

  • Joe_Jones

    Dbl top on AAPL 5 min chart?

  • itslance

    I think they’ll disappoint….and I think anything other than exceeding estimates will be a disappointment.  I think it’s going to be a huge move either way and I’d love to play it with an options straddle, but those never seem to work out for me.

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤  S H A K E   N ¤º°¨ 
    ¸„ø¤º° B A K E !“°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • http://evilspeculator.com molecool

    They have been focusing on new ‘exciting’ (cough cough) features and are ignoring the basics. It’s going to bite them in the ass in a big way. I told them already but all I’m getting are canned template answers. Blah blah – we are sorry – blah blah – should be fixed soon. This is inexcusable in today’s trading environment. HFTs are out there screwing your bid by tens of a penny thousands of times a second and they can’t get a fucking daily candle right? Seriously – pikers!

  • Curiousmind3861

    It seems like a lot of ppl think they will disappoint, but rumors are flying around about increasing dividend or even shares buyback. So even if it disappoints, aapl will still surge…does that even make sense? But Tim Cook seems to be the kind who will try his best to please the investors and boost stock prices, very unlike Steve..

  • Skynard

    Here we go again, guess those div’s are meaningless.

  • Joe_Jones

    The circus continues…

  • Joe_Jones

    I guess not

  • Pervergence

    Shorted GC at the 25hr breach………so far so good





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