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.

I’m not sure what’s going on but I ran into a veritable avalanche of setups this morning. Let’s go through them quickly while they’re still hot out of the oven. The spoos do not show us much context but it’s positive that this hourly NLSL was never breached and just expired.

Natgas touching its 100-hour SMA – it 25-hour is approaching from above and an hourly NLBL looms is backing it up. This ought to be a fun one.

But it’s really the FX side that’s completely off the hook this morning. The greenback at the nexus of its two colliding ST SMAs.

AUD/NZD – dropping through its 100-hour.

EUR/USD – perhaps a last kiss goodbye on both SMAs? A breach of the NLBLs would get me into a long.

But wait – there’s more – the best is to come ….

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 28th, 2013 at 8:03 am. Both comments and pings are currently closed.



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

    nobody?
    Gold, sometimes I think it’s easier to walk on water.

    http://s21.postimage.org/jza9w5r79/temp2.png

  • Skynard

    Long /NG, just tagged that NLBL. See if it can climb above. Not sure how to play this as storage report due. Think a stop @ 41 should do it.

  • http://evilspeculator.com molecool

    As Dennis used to say: you could post those rules in the newspaper and nobody would trade them… ;-)

    Here we got over a dozen kick ass entries and no interest? Meanwhile I see people get shaken out trying to short equities… 

  • jmoney3000

    Soybeans breaking above 100 hr MA as well as daily MA’s

  • http://evilspeculator.com molecool

    Spoos at ST inflection point.

  • jmoney3000

    would you mind sharing how you trade this short term move in the spoos/DX? im assuming you are long, with a stop below the 25/100 hr MA’s.  Do you plan on pyramidying up and where do you have your adds and then where would you place the stop for the adds?

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

     Panem et Circenses is latin for “Bread and Circuses” (or bread and
    games). Pretty good place to start, considering a peculiar situation
    with grains and latest legislation about online gaming. Play legal poker
    online, while high on legal pot and who cares how expensive munchies
    are…

    Grain etf JJG seems the way to go, with Soy and Corn looking really good this morning.
    There is SOYB and CORN, but they are less liquid. Use limit orders and mental stops if you must.

    MGAM for online gaming.
    Do you guys know any other stocks for online poker etc. – I didn’t have time to search

  • http://evilspeculator.com molecool

    Panem et circenses indeed – they always claim that our society is devolving. Not sure that’s really the case – things just oscillate between various fashions of superstitions and different imagined enemies. 

  • http://evilspeculator.com molecool

    I don’t pyramid up on ST entries. Just use those SMAs as my price inflection points. Take entry – put up stop. Get kicked out – take inverse entry with stop on the other side. Get kicked out again – do it one more time (depending on setup) – hopefully to the next hurdle on my chart. Sometimes it takes finesse and sometimes it just runs off as planned.

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

     Beautifully said!
    To be sure, I am not professing an end of the World. Quite contrary. I think that future is bright!

    OTOH, while its good and healthy for markets to climb the wall-of worry, public needs to be relaxed. Hence, “Bread and Circuses” and prisons via GEO (keeps on hitting new highs)

    I still can’t figure out where Long Bond fits in this…

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

    oh, there’s interest.

  • wvobiker

    FWIW the S&P 500 A/D is definitely bullish at the moment.
    Nowadays most say definAtely

  • Skynard

    Nice slow bleed :)

  • Skynard

    Chickened out on /NG, stopped out prior. Now short @ 49.

  • Skynard

    /SB looks like it wants to break out here:)

  • bdoone

    Did you see RUT bled off to unchanged and 1M traded (IWM) to push it up .30 in a minute to keep markets green?

  • bullregard

    It’s the third or fourth week now the algos are doing the same hard shake seconds before the report. Not sure if it’s worth playing the report at all any more.

  • Skynard

    Agree 100%, getting tired of the shake outs. That fine with me still banking coin:)

  • Rightside_ot_trade

    Added to my NZDUSD short from near last weeks high:-)

  • Skynard

    Kiss that bitch goobye:)

  • momac

    gc hit a daily nlsl and is also at channel support,  maybe time for a turn higher????

  • momac

     it made it through an hourly nlbl,  but the daily 20 sma is stopping it at the moment.  if it can make it through that, clear sailing for a bit

  • momac

     now it’s up to the 4 hr 100 sma.  that was quick

  • momac

    my comments disappeared, 

  • momac

     now that’s weird, they’re back again

  • Skynard

    Holy crap, was long /SB and had a sell order at the hourly BB (39) and it ran to 59. WTF!

  • momac

     next up, the daily 50 sma

  • Skynard

    Shorted, see comment above. Think it will run down some since it pinched the hourly.

  • Schwerepunkt

    USD.CAD still powering higher. Now above 1.03. Threatening to breakout on the monthly chart if it pushes above 1.044. 

  • Rightside_ot_trade

    That 18.46 area (3 highs there this month ) was a place for stops it seems, lot of supply( volume on this hour is big!
    I’m still waiting for down move to finish on a multi hour chart
    to add to a longer term position, though the reversal today could be the start of that move

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

     Softs going berserk
    Wanted to buy Cotton via BAL, but didn’t get to it on-time
    Look at it now

  • Skynard

    Yes, short and will reverse more than likely at the 100 hourly. Where do you see the hourly at right now?

  • Rightside_ot_trade

    18.46 at the time of your comment

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

    T-time.
    of course, looking at the trend, maybe a bigger T awaits.
    it was parity just several weeks ago, my how they do grow up so fast.

    http://s11.postimage.org/gdsecvxxd/temp1.png

  • Skynard

    Flipped long @ 38.

  • Schwerepunkt

    Danke. This week I exchanged some real USD for CAD to fund my Canadian retirement accounts. I’m happy with the timing. But I hope I can look back on this year as a rip-off as the USD continues to climb higher. Would love for it to return to it’s historical mid-range around 1.25.

  • http://evilspeculator.com molecool

    AUD/JPY is running…

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

    I am sooooo tempted to get me some GDX…
    If there is ever a good time for a double-bottom…
    If Silver would give me a sign,… or just a hint….oh
    BIG DOUBLE BOTTOM?

  • http://evilspeculator.com molecool

    That’s it – we are pope-less! Expect sodom and gomorrah in short order.

  • Joe_Jones

    I am hitching to get some HL myself

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

     I’m keeping an eye an FNV and RGLD.
    They are not so much miners, but a royalty companies.
    Last summer they where some of the first to bottom and then rally hard, for whatever the reason

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

    Shit, lunch is over
    I still didn’t get to look for online-gaming stocks.
    Do you people realize what kind of money will be made in internet poker?
    Its a legal gold mine without hole in a ground.

  • Skynard

    Added short /QG, full position.

  • bullregard

    …or the contrary…

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





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