How To Trade Like A Gentleman

In tape like this it’s best to be on your best behavior and start trading like a gentleman. Care to make any big bets in either direction? But of course – please go ahead – you first!! I’ll be right behind you – (cough cough). Mom would be so proud – if I ever manage to track down that woman. Seriously now,  as the VIX is heading toward the 13 mark now I am greatly limiting my exposure. I did manage to dig up a whole laundry list of promising symbols but I’ll be taking on only very small position sizes in the coming days.

On the E-Mini side we now have a nice spike which may be followed by an inside day – assuming we close below 1460.5 today. I would love to see that happen, in particular if it would be followed by an short trigger tomorrow. Of course nobody is asking me – for good reason.

My FX charts are still a mess (thanks TOS!! – I sweat bullets every time they announce a new release), so let’s sling a few stock symbols, shall we? Here’s AMZN, which also happens to paint an inside day. You know what to do – if not please check the cheat sheet.

AZO – that used to be one of the most stubborn climbers I have ever seen – until about last April. Loved to to ride this one for months on end. Anyway, right now it’s pushing into possible resistance and I’m short with a stop above the 25-day SMA. If it pops above I’ll reverse my position.

CCJ – great setup here right below the daily NLBL – I’m short right now and will add positions if it drops below the 25-day SMA – wouldn’t that be a shame? 😉

Quite a bit more where that came from – please step into my evil lair:
More charts and non-biased 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 or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.

CF – I’m long with a stop below the 100-day SMA. You may want to keep an eye on that 25-hour for a more fine tuned approach to managing your stop – assuming it gets out of the gate.

DECK – great great setup – long with a stop below the 100-day SMA. You may want to give a bit of room as the 25-day is right below. Also, the 25-hour seems to be getting traction and I’d love to see this one climb it. One of today’s favorites.

DUST – another beauty – long here with a sto below the 100-hour SMA. If it holds then we should fulfill the 100-day SMA long setup.

Inside day on FSLR – nice one!

Not to be outdone – double inside day on GRMN – I love it. Only caveat is the NLBL on the downside – assuming we breach that way. I’d prefer to see it push long but with the E-Mini and the VIX being where they are I don’t want to be directionally biased. Unfortunately the easy setup is not always what we get.

KO – coca cola – well, I’m short the sweet stuff with a stop above the now dropping 100-day SMA. IF she pops above it I’d happy follow along as there’s nothing but air above and 38 has been a show stopper for months now.

LULU looks like a nice long here – assuming the old gal holds the 100-day SMA. Lulu is the kind of name you’d imagine spray painted on an old B-52, don’t you think? 😉

The male chauvinist pig is running into a c..k block as presented by the 100-day SMA, the 25-day SMA, and a daily NLBL. I’m short here but am wearing a hat.

NLFX – perfect inside day setup – come to daddy!

SHLD – I grabbed an early long here via the 25-hour SMA which just crossed the 100-hour. If the former holds then she should lead to a 25-day SMA long signal. Again, this is an early entry and you can wait for the daily to trigger if you want to be conservative. Or grab a short here right now with a stop above the 25-day SMA. Many ways to skin this puppy.

TIVO – I grabbed a long position season pass here – the failure of the hourly SMAs worry me a little but I simply put my stop below the daily SMA and called it a day.

ZNGA – not exactly a mover but it’s bumping against its 100-day SMA. Short right now with a stop above.

Here’s crude again – I know! Yesterday’s long setup was shot to smithereens and I’m trying this again with a stop below today’s lows. Tricky bugger this one! The perfect entry would have been at the SMA but I missed that one so now I deserve to suffer.

Finally natgas – bumping against its 100-hour SMA. Could be a last kiss goodbye play on the daily. Anyway, I’m short right with a stop above. A tiny position I must concede (natgas scares me!!).

Have fun and keep it clean – your stops are your stops, no ifs and no buts.



This entry was posted on Friday, January 4th, 2013 at 2:51 pm. Both comments and pings are currently closed.

  • Skynard

    Took half off /ES @ 1460. Closed /DX short as well, it closed the gap.

  • Joe_Jones

    volume profile is dead above that

  • Evil_Gerb

    DRYS….looks like a Meth tooth.
    hey, I could put T post in it.
    nawwwwh.  one day does not make a trend.

  • i Bergamot

     We need some T for the ships, they are so dry…

  • itslance

    Closed my position in AAPL.

  • Evil_Gerb

    however, T’s work best on indexes.

  • Evil_Gerb

    you could sell half, and then when it takes off…..surprise it and sell the other half.
    (I know, the Market doesn’t give a damn)

    EDIT: best to set a target and eliminate emotion.

  • AmazingLarry

    Love the Sears set up. Standing buy, El Cappy. 

  • Skynard

    Flipped /ES, short 1/2 pos now.

  • captainboom

    Looks like that may have saved you some money.

  • Evil_Gerb

    Gerb exited MORT, target hit.

  • Skynard

    Would like to see silver inverse the market now please:)

  • Skynard

    Yep, lost the 100.

  • molecool


  • James Worth

    thoughts on the dollar? hanging man candle on $DXY.

  • Skynard

    Looks like bulls taking profit there.

  • Rightside_ot_trade

    Check out the volume at the breach of the high
    Im sure You need that to sell into :)

  • Skynard

    Yep, still at it AH:)

  • molecool

    Looks like most of you guys are already sucking on a Hefeweizen. Time for me to bow out. See you next week!

  • molecool

    As a matter of fact I do. I was about to talk about it on Sunday. Look at the weekly and monthly panels – that’s some key resistance and it would take a bit of doing to push above that.

    What do we have here – a weekly NLBL and the 25-week SMA. Last but not least there’s the 100-month SMA which has been a brick wall for three years now. I don’t think we have a clear case on ole’ Mr. Greenback until it pops above 82.5. And that’s right now pure Isaac Asimov.

  • James Worth


    your the Man! thanks! Waiting for the greenback to pop back up! Saw some discouraging candles on $DXY and $UUP, but remain optimistic that the Bernank hasn’t doomed our currency to Hell!

    Appreciate the great response, enjoy your weekend!

  • Rightside_ot_trade

    I can’t get into the mind of instituitional managers buying a break of this high. How much upside are they trying to catch? I get the idea of a large trade multiplied times a couple of %. But you still have to have volume working for you on the exit. Seems they get trapped often.

  • mrmik3

    Mole man I love your keeping it fresh with the smaller timeframes!… I Iearn so much from you man keep it coming!.. that goes for everyone on here great stuff guys!

  • molecool

    Unfortunately I am hoping for the best but am preparing for the worst. The way it’s going they are going to inflate ole’ bucky to smithereens. They really don’t have any other solution as they’ll need to reduce worldwide debt exposure from 160 Trillion to about 120 Trillion over the next few years. Cutting cost and increasing taxes is not even on the bottom of anyone’s agenda – instead it’s a race to the bottom amongst major currencies worldwide. They are simply going to inflate their way out of this and the cost will be borne by us and especially the poor.

  • molecool

    Glad you’re enjoying my humble contributions. Thanks for visiting – keep coming back.

  • Rightside_ot_trade

    Almost 100% probability of that. Been reading “when money dies”
    Very hard to keep reading about the suffering; the printing and inflation just went on and on.

  • badflightrisk

    25% moves in stuff like dry ship makes me think this party is about over but as long as they keep extending happy hour keep trading like its 1999!

  • newbfxtrader

    Music is still on… but dance closer to the exits…

  • AMCabrera

    thank you mole for everything you do.

  • Skynard

    Playing with the sharks now:)

  • Skynard

    That is a double div on the Zero hourly chart. Dipped toe on the Yen before close:)

  • newbfxtrader

    Now you tell me! I got no more toes left to dip in the yen! Every dip got chopped off.

  • AMCabrera

     I have gone in only every OTHER 200 pip ramp and that is in the literally sense I believe. But I really like the aud/jpy short that Im positioned in.

  • newbfxtrader

    Had good success with aud/usd and nzd/usd. I didnt have any eur/usd or gbp/usd (both looking extremely bearish). But so far every yen pair I tried got savagely torn apart.

  • Skynard

    That is ready to correct now, thought that a bgger move could be made on the Yen. Next week should be interesting.

  • Skynard

    Lol, generally wait till the end of the week because it gives folks time to chew on it over the weekend. By then it’s to late:)

  • Skynard

    IMO the VIX just tested the lows, it is ready to rock! RUT & TRANS extremely overbought with NAZ lagging.

  • newbfxtrader

    Not a pair I usually trade but you can see it fell apart after touching that weekly trendline. Building a huge wedge here.

  • Evil_Gerb

    save the toes in ice.
    you never know, they could be used for a finger replacement.

  • Filam3nt

    Yup. Russia about to obliterate Syrian rebels. Oil going to mars when the Persian Pipeline opens up.

  • Joe_Jones

    Now, who would be worse than Timmy?

    The final nail in Bucky’s coffin if you ask me

  • Evil_Gerb

    where’s the Sunday Post?

    just a thought last night.

  • newbfxtrader

    U hav no shame….

  • Evil_Gerb

    shame is for closers.
    always be closing

  • molecool

    ¨°º¤ø„¸  N E W  „ø¤º°¨ 
    ¸„ø¤º°¨ P O S T “°º¤ø„¸

  • molecool

    “The rich are different from you and me: they have more influence.”

    Oh yeah – that’s one for posterity. And they gave this guy a Nobel? Just a matter of time until they give those away in cracker jack boxes.

  • Joe_Jones

    He’s a tool. A presidential one to boot. Wants to unleash the print presses to overdrive. 

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