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Heavy Metal Friday

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August 14, 2015

Heavy Metal Friday

The Eurogroup meeting is starting in a few minutes and I hope that it won’t blow too many of my setups out of the water. I’m already seeing a lot of talk of why Draghi may jawbone the Euro down, which is why I’m glad that I made several runs to the ATM over the past few days (meaning a short squeeze may be coming).

Anyway it looks like it’s going to be a heavy metal Friday folks! Gold is back down for a bit of mean reversion and I’m liking it long here.

Similarly silver may be a long here – I’m taking out a teeny weeny position with a stop below 15.250.

So yes, the Euro may drop lower today but in [...]

3420
 

I’m Your Huckleberry

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July 21, 2015

I’m Your Huckleberry

I’m sensing a possible inflection point across various market verticals this morning. Now if you ask me what I mean by ‘sensing’ and if I have completely lost my mind then I would respond with ‘divergences and assorted correlated price action’ to the former and ‘affirmative’ to the latter. Let’s just say that I’ll be bull’s huckleberry up here – but only until 2124.25 – my boldness comes with price limits.

All jokes aside – I’m a bit pressed for time this morning so let me walk you through my nefarious plan. Basically equities seem to be slowing down and are clearly diverging. The YM [...]

4915
 

Chop Chop Til You Drop

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April 20, 2015

Chop Chop Til You Drop

I’ve had a mini epiphany today just browsing through my universe of charts across bonds, equities, the futures, and even forex. In plain simple words – we are in the midst of a high volatility sideways market period right now. And that means that directional campaigns simply won’t work. You may get away with grabbing a good entry but just as you’re ready to reap the benefits the tape turns on a dime and stops you out. This has happened across several campaigns over the past two weeks but the incident rate is increasing. Which means it’s time to adjust our trading to the tape. In this particular case it means keeping entries to a bare minimum – [...]

2061
 

Monday Morning Briefing

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April 20, 2015

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.

Index futures are still in shake out mode – as I told you last week it’s best to stay away for now and let this play out. Thus far my caution seems to have been appropriate – just look at this tape on the hourly and tell me if that’s something you really want to be trading. As a side note – for some reason the 2088/2089 mark [...]

1800
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