Painful Ping Pong

I’m not exactly enjoying the current market phase and most likely neither are you. The painful ping pong we are forced to endure for the past few sessions is to some degree courtesy of the Dollar needing to correct. However there’s an apparent lack of sellers since Draghi’s recent jawboning has confirmed the perception of the ECB as remaining dovish. So I guess we’ll gyrate around sideways for a while.

2014-11-17_dollar_update

Just looking at the action of the past week is making me nauseous – clearly this is not a good time to be trading Forex. So I suggest we don’t force the issue and wait until this thing plays out. The Santa Rally is nigh – we can be patient and we all have been through worse.

2014-11-17_spoos_update

Similar situation on the equities side and I would suggest the same here. I did propose an experimental inside day period entry on the spoos last Friday and that blew up in our face. I did take a short (as I’m still long) but have little appetite for adding positions here (13R is enough – even for this manic market megalomaniac).

2014-11-17_natgas_update

Update on natgas – grabbed 1/2R here last week and we’re off to the races. That’s quite a jump higher and it’s why I only recommended half a unit here – no wonder we call it the widow maker. I’m not going to touch this campaign until it either banks me 2R or my stop at break/even is being touched. If she really picks up the pace I may extend my target – I’ll keep you posted.

I have two juicy setups waiting in the bullpen but need to keep those for my intrepid subs:


More charts and 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 subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Cheers,

Monday 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.

2014-11-03_gold_briefing

Gold is attempting to turn the tide on its hourly panel right now and although it’s a very speculative play I’ll throw in 1/2 R with a stop below 1.168 (a bit lower than what’s on the chart – changed my mind). Again, low probability setup but high pay off it it pans out.

2014-11-03_Dollar_briefing

The dollar continues to climb and I’m long as soon as I see a close above the NLBL at 87.3. My stop will be placed below the 25-hour SMA which is currently hovering around 87.129.

More below the fold – please join me in the lair:


More charts and 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 subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,

Happy Halloween!

Boy oh boy – I live for this stuff! Massive moves across the board and of course Thor is loving it. Before you guys head out and slip into your Halloween costumes I wanted to serve up a few more charts as we are seeing had significant developments across the board:

2014-10-31_spoos_update

The E-Mini (and the S&P cash) just painted a new all time high – who would have expected that just two weeks ago? Well, we didn’t but we had the foresight to go long near 1860 and our accounts have been blinking green ever since. As I said – this thing is just getting warmed up. Today it’s going to be pretty much ramp & camp here and most likely we’ll be seeing a shake out next week. But the weekly is donning a brand spanking new buy signal and unless disaster strikes before the close it’s on the books.

2014-10-31_gold_update

GOLD!! Actually was looking at being long yesterday but to my credit I pointed out that being short below 1170 is recommendable. And we just breached that and a brand spanking new weekly NLSL. Wow this is huge! Just look at the monthly panel to grasp the significance of what’s happening here. The gold bugs are near a panic no doubt and this could easily fall off the plate. I expect some gyrations here at this major inflection points but being short with a stop above the 1237 NLBL is the name of the game now.

Two more juicy long term charts waiting below – please meet me in the lair:


More charts and 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 subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

And now it’s time for you know what:

beer4

That’s right – Hefeweizen time! And we damn well bloody deserve it as we’ve played this advance (and the preceding sell off) like bosses. Allow me to take you out old school:

Prost!

oldtimer_yukon




    Zero Indicator


    Darth Mole Alerts

  1. poll

    • What is your average spread on the EUR/USD?



      view results

      Loading ... Loading ...


  2. NinjaTrader
    Kinetick

    search warrant


  3. recent misdeeds

    1. Monday Snooze
    2. Monday Morning Briefing
    3. The Slow Walk-Down
    4. It Keeps Going And Going And….
    5. The Bots Are Back!
    6. An Impending Trend Shift?
    7. Fade The Noise – Play The Game
    8. Tuesday Morning Briefing
    9. Painful Ping Pong
    10. Volatility Tales