So where are back from whence we came and I hope you enjoyed the ride. I know – who am I kidding – it’s been a rough month and let’s hope that April will not only bring us better weather but also put us into a less devious market phase. So let’s see where we’re at on the equities side:

It’s getting interesting as we now have reached the outer limits of the current whipsaw zone. No, there is nothing wrong with your television set. Do not attempt to adjust the picture. We are controlling transmission. If we wish to make it louder, we will bring up the volume. If we wish to make it softer, we will tune it to a whisper. We will [...]

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 has been soldering higher overnight and as I’m typing this is already above our IP-L trigger whilst nibbling on that NLBL that still stands in the way. A push above it would trigger a long.

However if you are a sub then you know that I’m already long as I liked the Russell futures quite a bit better. Smaller range on [...]

I hope you blood leeches bothered to listen yesterday as I strongly questioned the sanity of touching equities with a ten foot pole. Of course Mole’s paranoia once again was proven to be spot on as retail schmucks are being delivered to the woodshed by the bus load. Too colorful for ya? Show me a chart you say? Alright, how about this?

Rather clearly the low participation holiday jump higher established a bit of a volume island – meaning a gap below and a vacuum above. Which means we’re stuck within about 1820 and 1840 – a.k.a. the 20 handle house of pain. Enter at you own peril – if you do take a number and make sure you bring your own [...]

This morning’s IP-L campaign has now been stopped out and per the rules we are supposed to be in a short position. Yup, I don’t like it either but it is what it is and the rules are the rules. So let’s strike this one up to paying the price of admission and revisit where we are:

Now if you go by the RUT be advised that it’s already dropped below the short trigger by quite a bit – if you missed the entry then you are advised to not chase it. The futures (shown above) are actually back above the trigger and any of you lucky bastards may actually catch a cheaper entry here (make sure to adjust your R size).

If you are wondering what [...]