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Friday Morning Briefing
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Friday Morning Briefing

by The MoleApril 12, 2013

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.

EUR/USD painting a possible last kiss goodbye of its 100-hour SMA. I would entertain a long breach however as those Net-Lines are far enough away to be slipped past after they expire.

Different story on the AUD/JPY – here I would only want to be short on a breach of the 100-hour – too much Net-Line congestion lurking above.

Copper also kissing its 100-hour and there’s a NLSL sitting right on the SMA. Great inflection point – I’m currently long with a stop below the SMA. Happy to flip below 3.413.

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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.

  • http://ibergamot.blogspot.com/ i Bergamot

    Palladium is interesting.

    Near support going back over a year.
    PALL etf tracking continuous futures pretty closely.
    No position atm

  • badflightrisk

    GDX testing prior low
    That rally went south in a hurry
    Looks like everybody is selling the metals and heading for the only game in town that goes up everyday

  • Skynard

    Hehe, Bombs away silver:)

  • DarthTrader

    To me this looks like a blowoff into Options Expiration. Thursday has Sun Mars Conj and Saturday has a Mercury Uranus Conj. All three events point towards a potential turn. Perhaps a Fractal of the Year ahead. Late June has powerful turn aspects as well which could be the beginning of a rally into years end hitting those 1700 or 1800 targets on S&P

    I see silver support at 26.69 the 161.8% ext of the ABC down from Tues. Look like it has been overshot by a few pennies

  • DarthTrader

    Perhaps the makings of a Double bottom

  • Skynard

    Still targeting the daily lower BB at 25 or so.

  • DarthTrader

    Cool, well there is a larger ABC down on the daily chart from March 21 which goes to 25.27 but Silver hasn’t broken the B point yet to see if the Volume confirms it

  • AmazingLarry

    Someone has a crude attitude toward oil this morning. Sorry, that wedge is making me silly.

  • http://ibergamot.blogspot.com/ i Bergamot

    Each Silver sell off is about $4 ever since last year.
    Oct 4.2
    Nov-Dec 4.7
    Jan – Feb 4
    Mar-Apr 2.6…? Hold here or go to 25.25 May Silver?

    More blood

  • ds2

    Mole – Please update Daily Zero after the close today. Thanks and have a good W.E.

  • Rightside_ot_trade

    Took two of the Eur setups

  • badflightrisk

    Looks like freebie time has ended at Avafin. $10 a month to see the block trades.

  • Skynard

    Screw that, not waiting for 25 on /SI. I’m out:)

  • BobbyLow

    Yep. When the black bubbly stuff sells off it reaaaally sells off. It’ll be interesting to see if this sell off holds going into the close with it being Friday and all. And the Bearded Clam is “speaking” at 12:30 PM. I hope they have is mike turned off. 🙂

    Getting close to my first target which is $90 and I’ll take half my short off if we get there.

  • BobbyLow

    “Book em Danno” 🙂

  • newbfxtrader

    Good work! Can I interest you in some nzd/usd shorts?

  • http://ibergamot.blogspot.com/ i Bergamot

    Too obvious?
    Or too far?

  • Skynard

    Way too fast, the old springboard effect:)

  • ridingwaves

    vix still pretty tame with this commodity sell off, look at weekly of SI and this 26.10 area is important if not SI heading to 21 per p@f chart

  • badflightrisk

    Shares are turning to dust in NUGT

  • newbfxtrader

    Check out /Cl. is it breaking long term trendline here? The wedge?

  • Skynard

    Long /ES on the 5 min div

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    Brought gold at 1494 😉

  • http://ibergamot.blogspot.com/ i Bergamot

    Damn leverage. 3X!

    My GDX is bad enough, but half size. Still need to add another half, when anything resembling bottom appears again.

    SLV is notorious at painting lousy bottoms, like this one from 2008. Would you guess that this is a low print? I didn’t

  • Skynard

    Took off half AUDJPY

  • FSUinArizona

    Saw that and covered short from yesterday, didn’t feel comfortable going long

  • badflightrisk

    ARNA could be setting up for a squeeze

  • http://dartht.blogspot.com/ Darth_Gerb

    I told you.
    (Billionaire whales are scooping it up as we speak, to sell to suckers in a year or two)

  • BobbyLow

    Close enough. I’m not taking any chances and have now taken 1/2 off and will let the other half ride.

  • Skynard

    It’s only a -1:)

  • Skynard

    /NG weekly still looks like it has legs but sell order @ 4.25:)

  • Skynard

    Yep, book em if you got em:)

  • ridingwaves

    once DEA is done, which has to be soon it could be fun..QCOR is a symbol that is really primed if q1 report strong…the shorts are all over this but next week is divi date..the pe, divi etc is great but the shorts there are large and well funded..

  • http://dartht.blogspot.com/ Darth_Gerb

    exited half my YEN short.

  • http://ibergamot.blogspot.com/ i Bergamot

    I buy silver (and sometimes gold) coins once or twice a year.

    I just got off the phone with my jeweler. He said: “Sure, you can have your silver at 26, but premium is 4 (thats highest premium he ever asked). And by the way, I don’t have any here, but I’ll get it for you in few days”
    It never happened before

  • http://dartht.blogspot.com/ Darth_Gerb

    I paid 8 once, premium 2.
    oh those were the days.

  • http://ibergamot.blogspot.com/ i Bergamot

    My first Morgan silver dollar was 12. Mint condition, struck in 1879 in Philadelphia, PA. Real money, you know

  • http://evilspeculator.com molecool

    Do what I do – go to fancy restaurants and steal the silverware.

  • http://evilspeculator.com molecool

    Will do!

  • Rightside_ot_trade

    Maybe that’s where the term deep pockets come from;-)
    Imagine carrying around a dozen of those

  • Skynard

    Well done!

  • Skynard

    When this neg div completes on the 5 min will reverse:)

  • DarthTrader

    Nice

  • DarthTrader

    At severe lows like this you can get lower premiums by buying 1000 oz bars or 100 then when the premium drops you sell the large bar and buy smaller bars or ccoins.

    These guys have silver .99 over spot I’ve used numerous times over the years http://tulving.com/goldbull.html

  • http://ibergamot.blogspot.com/ i Bergamot

    thanks for link.
    afraid to use online sellers – was scammed once

  • http://dartht.blogspot.com/ Darth_Gerb

    the 4th, 5th & 8th were hot. not going to lose coin.
    question now is, now what? camp, reverse, or continue.
    ..must plan now, all contingencies, and avoid bias.

  • Skynard

    Looking for a retest here and just maybe get triggered.

  • http://dartht.blogspot.com/ Darth_Gerb

    Gold, I drew this chart 12 or 13 trading days ago.
    http://s8.postimg.org/p5pz9pc43/may_Bnothing.png

    it’s a Bearish T I kept it simple.

    it may be nothing. it may be everything.
    Muwahaha.

  • http://ibergamot.blogspot.com/ i Bergamot

    Found 2 places with silver inventory. Biggest stores in town. Combined they have less than 100 coins. Premium 5+
    Both promised to deliver next week, if I need larger quantity, at slightly lower premium.

    I think they are afraid to keep silver on hand. Shortage? I don’t know

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨

    ¨°º¤ S H A K E N ¤º°¨

    ¸„ø¤º° B A K E !“°º¤ø„¸

    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • http://dartht.blogspot.com/ Darth_Gerb

    there’s plenty of Silver articles out there. some day a disconnect between Market price and reality. I don’t want my opinion aired here. but thank you for your observation. a ‘like’ for you.

  • http://ibergamot.blogspot.com/ i Bergamot

    I highly value you opinion.
    May be you will care to share it in a future?