Thursday 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 testing a NLBL at 1507 – if it fails there’s the 25-hour looming below. In addition there’s plenty of context here waiting below, most significantly the 100-hour SMA.

AUD/JPY – seems to be in a congestion zone and I think the odds of all that providing support are pretty reasonable.

EUR/USD – all morning it was pushing sideways and as soon as I was writing this post it was falling lower. We may get a snap higher near the bell which could result in a last kiss goodbye – if that happens get positioned at the 100-hour.

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 Thursday, February 7th, 2013 at 8:25 am. Both comments and pings are currently closed.


  • Skynard

    Reversed /NG at 3.40 which is good support. Will take the ride before the report and get the “F” out this time.

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

    Mole,
    have you seen my BS in previous post comments?
    Its a new concept for me
    What do you think

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

    hehehe, bucky’s on fire

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

    Geeez, did they just kick gold in the teeth?
    5min.

  • Joe_Jones

    There is probably more gold in people’s mouth than at NYFED

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

    Barbaric metal. ;-)
    Romans used the word barbarian for the Germans, Celts, Iberians, Thracians, and Persians.

  • Joe_Jones

    Screw the Romans, Black Venetian Nobility and their descendants. This is where the root of all things evil started.

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

    Don’t take this as an insult but I my thoughts were along the lines of what I said yesterday. In a low-information period humans have a tendency to fill in the gaps with their own imagination. If they happen to guess it right they embrace their theory as truth. In a high-information environment people have a tendency to pick out only the information that supports their own existing view. Many traders come to the market without bias and an opinion and immediately do very well. Then they start thinking they know something and get killed instantly as they employ their newly developed theories on the tape. 

    I think you get where I’m going with this. We human beings are mostly miserable creatures who vastly over estimate our intelligence and experience. In some disciplines we get away with doing that – fortunately when it comes to trading you have to face reality on a constant basis. It takes a lot less analytical intelligence that you think – a bit of street smarts and understanding of human behavior goes a long way.

  • http://evilspeculator.com molecool
  • http://evilspeculator.com molecool

    A big move is coming – be prepared.

  • Skynard

    Which way?:)

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

     I understand
    thanks

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

    undeniable.  last six weeks have been inside candles.

    http://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=1&mn=0&dy=0&id=p73756636620

  • Skynard

    Hehehe, loaded up:)

  • Skynard

    Also long /SB now.

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

    gold zombie. (5min)

    http://img3.etsystatic.com/000/0/6003695/il_fullxfull.287877875.jpg

    ok, off to cubie land.  ciao.

  • AmazingLarry

    Copper, platinum and palladium are all trying to break out. Check the PnF’s on those. Copper still showing 8! Dow/gold ratio of 8 with Dow at 15,000 is 1875 gold. Only long copper ATM, the rest I await further instruction

  • Joe_Jones

    ES 1482 is the next volume hole in case any fellow bears are looking for a target to exit ST shorts

  • Skynard

    Looking good:) Lower BB hourly 93.

  • Curiousmind3861

    wow look at EURUSD goes, weeeee all the way down 200 pips!!

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

    SPX:TLT
    12.8 – not the end of the world, but nice peak potential.
    http://stockcharts.com/h-sc/ui?s=$SPX:TLT&p=D&yr=0&mn=8&dy=0&id=p05242235107

  • Skynard

    Went long now /QG @ 33, quite the sell off:)

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

    HYG
    http://stockcharts.com/h-sc/ui?s=HYG&p=D&yr=0&mn=3&dy=0&id=p28862215498

    what would it take to get a HighPole Reversal warning on the P&F?

  • bullregard

    You sure Sky? Looks it’s back down where I “detected” the artificial ramp starting…

  • Skynard

    Dead cat bounce w/ a div though. Moves down further IMO.

  • newbfxtrader

    Failed breakout. Extremely bearish.

  • bullregard

    who… she?

  • bdoone

    RUT cleared balance area and running.  It won’t die.

  • newbfxtrader

    down of course.

  • http://evilspeculator.com molecool

    I did not say that. See – it’s your opinions that you will trip over.

  • newbfxtrader

    Dont worry. I dont trade on opinions anymore. But yes thats what I expect. No positions.

  • bdoone

    TRANS just went green. 

  • Skynard

    Damn, another squeeze from hell.

  • Joe_Jones

    Seems to me that MMs are trying to keep a floor on the downside direction in order to suck in long more suckers and unload at the top. I see it as another opportunity to reload/add more shorts

  • 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„¸





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