Told You

Alright now put down your mobile phone and try to pay attention for more than ten seconds.

2015-04-22_zero

This razor bladed chop fest is exactly why I kept telling you guys to stay the [expletive of your choice] out of equities right now. But you wouldn’t listen, would you? Just had to burn a chunk of your ill gotten gains trying to prove that you’re smarter than the market. Which you aren’t – and neither am I – or the next guy for that matter. Perhaps next time you’ll listen?

Because when I say ‘stay out’ – I mean it.

2015-04-22_silver_update

Chart of the day – silver. Really made my day as I snagged a few forex stops. Never be afraid of taking that next entry – but always make sure to plan the trade and trade the plan.


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Cheers,

Sideways High Impulsive Tape

It’s the worst market period of them all – sideways high impulsive tape, a.k.a. SHIT. I’m the first one to admit that the current market phase is taking its psychological toll. Which is why I am spending as little time as possible looking at my roster of charts. The short term panels seem to be running like a hare since about the time I returned from Mexico. The first few days were great but it’s been a pretty brutal grind since the second week of April and I’m very tempted to buy another flight ticket and head to a nice beach without Internet access.

2015-04-21_spoos_update

Alas I have a responsibility to steer you guys through difficult times as well, which is part and parcel of what you subs are paying me for. Which is why I hope you can forgive me if I start sounding like a damn broken record as of late. Stay the heck out, don’t touch this tape, no edge here, don’t you dare press that buy button, take small position sizes, stay nimble, extra picky, keep your powder dry – heck I’m sick of listening to myself at this point! Where’s the fun in that?

Problem is however – we’re not here to have fun really. Although I do my best to lighten things up on a daily basis trading your own money is a dead serious endeavor and it only takes a few weeks of bad decisions to wipe out a big chunk of your principal. So please take me very serious when I beseech you to not get drawn into crappy tape. There is no real reason to participate here and as soon as that changes you will be the first to know.

Repeat after me: Cash is a position!

2015-04-21_CADJPY_setup

That said – the lowly Mole knows to extract promising setups even in the most dire of times. Here’s CAD/JPY which is looking pretty promising today. We have a double IP near the 100-day SMA and means we got a binary entry opportunity. On a breach in either direction tomorrow put your stop on the inverse entry trigger and Bob’s your uncle.

A few more below the fold for my intrepid subs:


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Don’t worry folks – even this market phase shall pass. It always does and your patience will soon be rewarded once the fireworks season starts again. Just ask Captain Boom ;-)

Cheers,

Still In The Game

Boy that was a close shave this morning – one tick lower on the E-Mini this morning and I would be out in the woods right now kicking over trees. Just kidding – you’ve got to take things in stride, even if you get swiped by a tick. For the record – you will always see me put an ISL on my chart with a < sign – which means that you should put your stop BELOW it. In particular you always want to avoid full numbers – except on entry triggers.

2015-04-16_spoos_update

That’s where we are right now – quite a little bear trap this morning, extending all the way down to 2089 – those cheeky bastards! But let’s be honest – I got lucky here as I could have easily have scraped a bid. Better sacrifice a chicken burger to the Market Goddess tonight? And yes, of course it’s a she! ;-)

2015-04-16_spoos_setup

If you are still not exposed after Tuesday’s hammer then today is probably your next best opportunity – and it’s binary. Be long above 2104.75 and short below 2089. The daily context here is really excellent as we’re straddling that upper diagonal on our sideways triangle/wedge.

2015-04-16_CL_update

Here’s crude which has been holding steady – the weekly panel shows us kissing the 25-w SMA and that’s our first theoretical hurdle. Why theoretical? Because it hasn’t been touched in eons – which in itself speaks to the velocity on the way down. It’s still early days and we could easily switch back into shake out mode. But so far so good and my stop is still at break/even.

2015-04-16_ZL_setup

ZL – soybean oil - looking pretty good here straddling the 100-hour SMA and it’s also near the 25-day SMA. I’m going to be long above today’s highs and short below the lows.

More juicy setups waiting below the fold 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.

And that’s all I got for today – keep it up everyone and let’s continue banking coin like bosses :-)

Cheers,




    Zero Indicator


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  3. recent misdeeds

    1. Thar She Blows!
    2. Thursday Morning Briefing
    3. Told You
    4. Make That Money
    5. Sideways High Impulsive Tape
    6. Tuesday Morning Briefing
    7. Chop Chop Til You Drop
    8. Monday Morning Briefing
    9. Chasing The Market’s Tail
    10. Still In The Game