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Extra Evil Morning Briefing
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Extra Evil Morning Briefing

by The MoleMay 29, 2015

Oh boy – we are literally swimming in juicy setups this mornings. After weeks of drought we finally reap the benefits of laying patient. Time to have some fun.

2015-05-29_spoos_briefing

The spoos look extra delicious here and I’m currently 1/2R short but waiting to be stopped out at 2112 so that I can flip for a long position. The range between that and 2112 is our limbo zone – below the latter we are pushing back into bearish territory but for a slide lower we would need to breach 2108.

2015-05-29_NQ_briefing

I actually like the NQ a bit better and I’m playing a short here (1/2R) via the same script.

2015-05-29_gold_briefing

Gold – still waiting for a move here – it’s coiling up! Long above 1190.8 (or here) with a stop below 1185. I’m glad we finally rolled over.

2015-05-29_USDCAD_briefing

Tons on the forex side – long the USD/CAD with a stop below 1.24 – LOVE that configuration.

2015-05-29_EURUSD_briefing

EUR/USD – the trade I love to hate. Which is why it’s probably working out. Triggers on the chart. I kid you not, when I saw this chart last night I got dressed and ran to the ATM and literally cleaned it out – hehehe…

More nefarious market madness looming below the fold:

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A morning like this deserves its own theme. Crank it up and have fun. See you guys later this afternoon.

Cheers,


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • trader wantabee

    super-sized evil!
    what is your setup for going short NQ, after seeing a tweezer bottom 4516? is it the inverted hammer candle at 4540 failing to continue higher? is it a few days of price at a certain level (resistance 4544 – 4548), implying a reversal is due since it can’t seem to push higher? is it month end balancing? is it the threat of a bad GDP?

    i can see the support level of NQ at 4476 (from Thursday’s post), so I thin I understand the big boy accum concept…

    I want to short GOOGL because the compression on youtube saps the strength out of the bass thumps :0 no worries, not trading yet, still not ready, still working on systems πŸ˜‰

  • Skynard

    Hehehe, only half evil:)

  • http://evilspeculator.com molecool

    See – this is why I’m only posting ‘setups’ not ‘entries’ – all that really depends on your system rules. You guys trade differently than me – I can only point out inflection points. If you try to trade like the Mole you will not succeed. But the inflection points can serve all you guys.

  • Skynard

    If /NKD 20450 fails looking at 20200 as my profit target.

  • http://evilspeculator.com molecool

    You are a machine…. wears me out just following along…

  • Billabong

    Nice post yesterday … 2nd shift … love it!

  • Billabong

    Mole, in conjunction with your GC coil, PM miners started moving yesterday afternoon.

  • Skynard

    Big one, woohoo:)

  • Skynard

    Thank you, the power of these trades is you only need to have one winner out of the two setups:)

  • Skynard

    Damn, /ZW on the move.

  • http://www.ProfitFromPatterns.com/ Ivan K

    B’bong … perhaps you will find that mining companies generally move before Gold does … hence can / could be a neat way to play the ‘underlying’.

  • Billabong

    Exactly! I’ve been following this since introducing the RBT / R concepts …

  • http://www.ProfitFromPatterns.com/ Ivan K

    The concept has a very very long history … and has served rather nicely since the 80’s … and I am sure even way before then.

  • http://evilspeculator.com molecool

    My USDCAD DarthMole alert seems to have gone viral πŸ™‚

  • Skynard

    The mind is a mysterious place:)

  • ridingwaves

    June is very active delivery month for the precious also…

  • Skynard

    /NKD, game on:)

  • Skynard

    Do not let /ZC scare ya, big move coming as well.

  • ridingwaves

    All that QE and printing ahoy to get a negative GDP….low rates are hurting the recovery…no yield environments are like mine fields….risk mispriced always finds its mean average

  • Skynard

    Took some profit on shorts and flipped /NKD to long.

  • Bill

    This GDP reading was not a surprise to me. The economic brakes were hit hard on my customers, suppliers, and everyone else in various industries I have been talking to right around the end of 2014. Hasn’t pick up yet.

  • ridingwaves

    Auto sector will start losing momo from here on out, inventory building, low rates and subprime revival have pretty much run their course….it’s been on fire for 3 years now….

  • Skynard

    Lonely Mole signal possible, will flip remaining shorts to long. Sideways price action

  • Skynard

    Looking for a /ES 2120 retest (Gap fill). See if we can push above VWAP.

  • ridingwaves

    I’m thinking opposite…

  • Skynard

    /NKD stops need run above 20500 and then will adjust accordingly:)

  • SirDagonet

    5k Bobby… your post to Skynard reminds me of the Eagles (life in the fast lane….)

  • Skynard

    Lol, data skip. Good for 10 /ES points

  • Bill

    I won’t disagree in theory but the markets and rates could just do their own thing for years to come. I put my 401K into cash May, 1. It made sense to “sell in May” at the time. If we push higher and get some solid confirmation of a break higher I will dump it all back in and let her ride.

    I would like to manage my 401K with some sort of RBT but I don’t know how to translate my investment options in my plan to some of the systems I have seen.

  • SirDagonet

    Not a suggestion, just food for thought:

    Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk by Gary Antonacci

    (sorry, didn’t know how to post an Amazon link)

  • ridingwaves

    trying to figure out if they are really markets, the housing market was last one not gamed until the fed stepped in with bulks sales to PE, low rates, FHA subprime etc….to lift it up….that was one market I didn’t believe could be rigged….but with libor, fx, commodities it’s not really a market anymore….besides if everything was great, why is FASB 157-8 still put on sidelines….

    just saying

  • mugabe

    the principles in that book are the foundation of how I manage most of my money. not as aggressive as he is, though

  • Bill

    Thanks. I put it on my wish list for future reference.

  • SirDagonet

    in what way(s) are you less aggressive?

  • Bill

    I don’t care what it is as long as I can make some money and I am not the one personally screwing people.

  • Skynard

    Took the Mole signal instead, now short. Hard lesson is to be flexible:)

  • HeadNShoulder

    ……………you are a machine that speaks human language

  • mugabe

    I have a bigger basket of etfs
    I weight for momentum AND volatility.
    I only discard an etf is it’s below a threshold momentum.
    I have 2 accounts based on this with different degrees of aggressiveness
    I also measure momentum (and volatility) at 5 different intervals from 60 days to 200 days. Just using one time measure seems prone to distort to me.

  • ridingwaves

    I hear ya….but in the case of my kids, I do think a market is better than casino….price discovery on risk will be very ugly….having bought abs and mbs paper for years….my take is risk is definitely mispriced…which means nothing in trading…

  • Skynard

    Wired that way, /NKD short trigged 20475. When you have participation and a sell off, it is genuine to take a lonely Mole signal.

  • Skynard

    Only half evil and half bot:)

  • Bill

    Hmm, yeah. No kids here so I try not to think about the future implications of the non-sense. My monthly Xanax bill is high enough as it is.

  • Skynard

    /CL has broken the downward channel now.

  • Skynard

    /DX needing a defibrillator, 97.00 in the crucial limitation.

  • http://greenlander1.blogspot.com/ greenlander1

    Noone is in oil? USO is already halfway to my first target and I had this as a week long+ trade. This was a great set up with both the daily and hourly setting up buy signals. Dollar short working but not taking off just yet.

  • http://greenlander1.blogspot.com/ greenlander1

    No equities for me now. I’m an expert at getting hacked up when it is slathering around like this.

  • BobbyLow

    I put oil on a “time out”. It hasn’t been a fit for my system for a couple of months now. In the mean time, Oil Companies as a whole have been behaving much better all year and have been much more tradable for me.

    But if your lens is a fit then you must commit. πŸ™‚

  • SirDagonet

    ha…. if the glove…

  • BobbyLow

    Just got back and 4 out of my 6 positions as a whole are Positive on the day. This morning’s GBP/JPY is one that is negative and it has been kind of bumpy over the past couple of weeks but this is what it usually does. Get into a nice trend – go shitty – go into another tradibile trend and go shitty for a few days. Caught a nice reversal on AUD/NZD last night so that’s making up for GBP/JPY negativity for now. Short on GBP/USD might be waning but stop is set at +1.5R. EUR/USD is positive and we’ll see if it has any legs.

    Long Bond (TLT) is positive on the day while Short Energy Companies (DUG) is only down slightly and this is fine considering that oil is up almost $3.00.

    All and all, not too shabby and better than a “poke in the eye with a sharp stick”. πŸ™‚

  • BobbyLow

    Yep. πŸ™‚

  • hellbent

    Just had a look at eToro… Best presentation of bias in action I’ve seen. The more obvious the trend = the higher the percentage of people going in the opposite direction…

  • Skynard

    Fantastic day for the Skynard, /6B above 1.53 sets her free:)

  • SirDagonet

    a bigger basket than his sector etfs?

  • ridingwaves

    without crude today market would be looking lot worse

  • Scott Phillips

    Oanda releases this data as well – its a real edge πŸ™‚

  • Scott Phillips

    After a rough couple of weeks Dudeplunger and I started to string together some decent positions

  • captainboom

    New Post

  • http://greenlander1.blogspot.com/ greenlander1

    Yeh strangely enough I also have had oil on a time out but for several months. The way it bounces around so much not so conducive to my system either. Kind of like gold. It generally doesn’t work well with my setups but for some reason it was lined up here. Perhaps because the set up is off of a much larger move than I would typically see in oil. Even if this trade turns out well part of me is trying to make sure I remember all the times I got burned with it and don’t get too emboldened πŸ™‚