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.

Overnight the spoos have dropped toward their brand spanking new NLSL at 1509.75 – merely missed it by one tick. This is will be our line in the sand today as the lower line of our 100-hour BB will soon correlate. I would ignore all the noise in between and get positioned at the lower BB and of course near the 100-hour SMA.

I’m seeing several promising GBP related setups this morning. Here’s the GBP/AUD pair which is heading into a short term resistance cluster. I would be short here until we see a breach of the 25-hour.

There’s more – please step into my lair:

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Cheers,

This entry was posted on Thursday, February 14th, 2013 at 8:11 am. Both comments and pings are currently closed.



  • bullregard

    Not much will to hold /NG into the report out there. Not sure I have the will to hold the short. The bearish long term could disappear in a blink. 

  • http://evilspeculator.com molecool
  • bullregard

    Right, thanks Mole. I am just a spectator until 9:30 EST.

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

    Wagering against the yen has emerged as the hottest trade on Wall Street over the past three months. George Soros, who made a fortune shorting the British pound in the 1990s, has scored gains of almost $1 billion on the (Yen) trade since November, according to people with knowledge of the firm’s positions – WSJ

    ..and the CONtrarian in me thinks, exit signal!

  • http://evilspeculator.com molecool

    Massive block trades in GE – some people were squeezed.

  • Skynard

    Thanks Mole, thats where I went long now:)

  • Skynard

    Wow! /SB fell off the plate.

  • bullregard

    I’m out of short NG. It is spending a lot of effort around the 100 hrs, also the LBB 25 hrs right below. Report coming… could make a splash. I need a break from this bitch.

  • Skynard

    Back to full short on the /ES:)

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

     Hmm… the news and economic data has finally come to the realization
    that Europe is in big shit. I think I am now moving to the Bear camp and
    looking to sell rally ;)

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

     I have 2 runners short too. First time shorting in probably 3-4 weeks. Hope virgin shorts survive!

  • bullregard

    Sky, they usually run the stops both ways before the report. It used to be minutes, but now, the latest 2 reports it was reduced to seconds. 

  • Skynard

    Yep, had half short turned ful now.

  • AMCabrera

    http://content.screencast.com/users/AMCabrera/folders/Jing/media/2ae1d1ff-464e-4387-8b8b-a462181da8f3/2013-02-14_1007.png
    http://content.screencast.com/users/AMCabrera/folders/Jing/media/c737279e-cc7c-490f-aea7-c8d6941e3aef/2013-02-14_1008.png
    well gents im back again. I always thought hey im always right just may not be the time. So Ive taken a longer break enjoyed the outdoors and almost starting looking for a bag boy jobs lol. No seriously now. Here is my first move of the day. The long in the gbp/usd was triggered my short in the nzd/usd missed barely it was a short order. Im in no hurry.

  • Skynard

    /NG turning bullish looking at the daily. Think it explodes higher, time to trap some shorts me thinks:)

  • bullregard

    I hope you have a light position.

  • http://iberianviews.blogspot.com/ catracho

    prob right but first the sheep have to be made to think they are correct! So probably an exit is not far off..

  • ridingwaves

    damn gold bugs….

    The world’s central banks last year bought 534.6 tons of gold in 2012, the most since 1964, as global gold demand hit a record value level, the World Gold Council said Thursday in a quarterly report. Purchases by central banks for the full year rose 17% compared with 2011, while fourth-quarter purchases of 145 tons marked a 29% rise from the same period a year earlier. “Central banks’ move from net sellers of gold to net buyers that we have seen in recent years has continued apace,” with official sector purchases across the world now at their highest level for almost half a century, said Marcus Grubb, managing director for investment at the World Gold Council. In value terms, total gold demand in 2012 was $236.4 billion, an all-time high, the council said. 

  • ridingwaves

    good long entry here…l/NG

  • Skynard

    Holy Shit! Thanks god for stops. Long at 3.2

  • Pervergence

    Metals……sweet move…..been short GC and got short SI at just a snitch below the 100hrsma

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

    March Silver at 30.50
    Will the bulls step in?
    If they don’t buy it here – i don’t see how 30 will hold

  • BobbyLow

    Howdy to my neighbor in the South.  Sometimes, a break is good especially when considering that conventional logic and the market are mutually exclusive.  It’s almost like getting up everyday to go to work in a nut house.  :)

  • Skynard

    /SB leaving shorts in the dust:)

  • ridingwaves

    Stopped out NG.. Spec play entry with WEST, going short RWM on this news..

    401(k) balances hit record highs

  • Pervergence

    SI giving it up……

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

     Well, I clear off 2 out of the 4 ES shorts. Will probably only leave 1 contract at tight stops with a few hundred bucks of vix call to run through the night. Are you going to take some off?

  • bullregard

    Sky, I am still not into futures, for many subjective reasons… I am curious, how much slippage did you incur on your stop? Playing ETFs with NG I would have been clobbered on my fill (if I was long). This is why I preferred being out and missed a huge move. I am trying to see if futures offer better control over the position than etf.

  • Pervergence

    SI…..several breaches of 30.5…….need to take out LOD to make it stick…..

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

     Kinda looks like bear flag.
    Buyers are not presenting themselves…hmm

  • Pervergence

    And now it looks like another leg down…….

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

     Valentine Day Silver Massacre ?

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

    I wish… but controlling my enthusiasm
    One step at the time

  • http://evilspeculator.com molecool

    KICK ASS mole signals today!

  • Pervergence

    Still doesn’t look like a panic in SI yet…….

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

    Gold looks like its a goner 4 days ago. Nicely at support now, probably going to 1570-80?

  • Pervergence

    Took half profits in SI

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

    these kitties really know how to cling on.
    [Spoos]
    http://s17.postimage.org/8qrvf2wd9/temp1.png

  • http://evilspeculator.com molecool

    I guess I just talk to myself then…

  • Pervergence

    Been busy with my metals…….

  • Pervergence

    Took all SI profits…..still s GC

  • Skynard

    Well, decided to have a sell order in case it tanked and caught most of the move until going long at 3.2. Still long. Futures IMO offer more flexibility. To be honest you do not need much to get started in Futures. Mini contracts are available as well as Forex. 

  • 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„¸

  • Skynard

    Ok, waited all day for that one, short.

  • Skynard

    Spot on today Bro:)





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