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.

There has been more up and down in the E-Mini recently than in a turkish brothel. Make sure you’re wearing a raincoat and then consider a long at the 100-hour SMA, stop below the current candle’s low.

Silver looking pretty shiny this morning and I’m thinking long with a stop below the 25-hour SMA. Short only if we fall back below the 100-hour. Also some net-lines in between – should be good for some support in the next two hours.

More charts and non-biased commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.

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Cheers,

This entry was posted on Wednesday, February 6th, 2013 at 8:36 am. Both comments and pings are currently closed.



  • bullregard

    Still one day left on that 1491.25 NLSL… if I’m not mistaken

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

     This is more than just NLSL.
    This is 1491-1493 ES area, that was tested 3 times to upside, then breakout, then tested 5 times to downside, held so far. I can only imagine how many stops there are just below. Still cannot believe support tested so many times and not broken.
    But, its a bull market, you know :)

  • bullregard

    I have a question that keeps tormenting me. It is on the basic market rules, but it would have implications on TA, so I think I can ask it here without wasting anyone’s time. So, here it is… with the exchange co-located machines, and the ubiquitous algos out there, it seems possible, at least theoretically, for one to buy and sell from and to themselves, making it feasible to move the price to a desired objective without putting skin in the game… just the commissions, which I think are negligible. Does anyone know if this is in anyway not allowed or see anything else making it not feasible? If this is employed, it could explain swift moves to extremes where clean biased positions can be taken. What do you think, is this crazy talk?

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

    I disagree. Knight Capitol.  there is always other players, and there always is ‘skin’ in the game.

  • http://evilspeculator.com molecool

    Google Nanex – plenty of info on this stuff out there.

  • bullregard

    Come on DG… KC was doing great until they caught the “bug”. I need a good argument against to put my mind at peace :)

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

    SCTY  is at it again

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

    well, even if your theory is correct.
    how can you benefit from it?
    the defense rests your Honor

  • bullregard

    heh… I was thinking of the same right now… 
    What comes to mind is swift moves have higher probability of being reversed… that in the line of thought that if you find a way to detect the “no skin used” it shows intent of better positioning for the counter move. 
    (looking at /ES now) :)

  • http://evilspeculator.com molecool

    Use em instead if i – otherwise it won’t wrap properly.

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

    almost as good as your videos

    http://www.youtube.com/watch?v=OTEPbE-4y-8

  • Skynard

    Yen is the best trade all week, damn!

  • Skynard

    Took that one on the ZL:)

  • Skynard

    Bear flag 5 min.

  • bdoone

    Just heard: Jim Boehner press conf. 10:45am. Don’t know about what and news doesn’t matter in grand scheme of things but very short-term: flapping lips can induce whippiness.
    EDIT: discussing Obama need to offer serious plans to address debt and replace ‘sequester’.
    Same old, same old.

  • bullregard

    Another case in point, /NG. 
    I “detected”, don’t ask me how because I don’t know, the yesterday ramp was done with “no skin”. Let’s watch the outcome…

  • Pervergence

    YEN has been the best trade since october……why is there no coverage?

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

    I count 181, but ..you know – ‘news don’t matter’.
    http://www.google.com/news?ncl=dUceMoGQP7PVVHM5KlOaEpHolJCVM&q=yen&lr=English&hl=en

  • Skynard

    Hehe, your right if you had a couple tickets since then we both could retire:)

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

    Yes, remember when the rising trendline broke, just taking scalps now:)

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

    The fruit company just poked above last week’s inside week high.  Quite a volume hole at 470-480 to chew through.

  • Skynard

    Signals spon on today:)

  • Skynard

    Mole took the /SB trade, working well!

  • Rightside_ot_trade

    GBPUSD. Five dojis on the hourly.
    lightly long 1.566

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

    bah. not again
    [SPX]http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=2&dy=0&id=p49081696581

  • Rightside_ot_trade

    /SB hammer last hour with decent volume
    I’m a bit concerned about it wanting to fill the gap up at 18.79
    Every gap past few months got filled

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

    Gold has been stalled, so I did some digging. (ok ok, I stumbled upon it)
    The weekly is trapped between the 25 & 100ma’s.

  • Skynard

    Grrrrr………..

  • Skynard

    Ouch, hehe:)

  • Rightside_ot_trade

    Yep
    Pls bounce off vwap for a lower high

  • Joe_Jones

     You’re soooo evil..   ;-)

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

    feels like i’m missing part of the conversation.

    go gold!

  • Joe_Jones

    hehehe, I was just making a compliment ;-)

  • Joe_Jones

    Btw, careful with gold if the market decides to sell hard

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

    true.
    it gets dumped, to buy short sides.  scoundrels.

  • bullregard

    Seems we are heading for a VIX signal failure. Still early…

  • Skynard

    Only half evil:)

  • Joe_Jones

    yep still early, but  it starts looking that way. The last 15 min of trading time could reverse that in a jiffy.  AUDJPY and 5min ZL should give us some warning if the cavalry decides to save the day. If the VIX  signal is  busted it could spell mucho pain for late coming bulls. As Bergamot mentioned it below there are quite a bit of stops to bust below.

  • Joe_Jones

    that’s 333 ;-)

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

    Activity on /NG has changed pace… The frenzy buying is paused… will see if stopped. The Market takes a while for convincing. …Or, it waits patiently for more stops to accumulate. Would be nice to see the pending orders…

  • bullregard

    Wow! That’s evil skiing… But I guess the chute well positioned near the exit would not hurt…

  • Joe_Jones

    awesome!!!!

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

    Spoos Potential Inverted T.
    http://s7.postimage.org/gm877o90r/T_hint.png

    how do I find them?
    Look for a high.  1. check.
    Find a similar high 2. check.
    See if there is a nice apex/vertex between the two.
    (not mandatory, they can be askewed, in this case – perfectO)  3. check  

    look for weak sector break downs, signs, omens, top calling & general euphoria from bulls (in progress)

    -Gerb





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