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.

Much to my chagrin I only ran into one good looking chart that tickled my fancy this morning. It’s the EUR/AUD which is bumping against its 100-hour SMA. Plus there’s also a brand spanking new NBL which should offer additional resistance. Nice inflection point to stage positions – let’s see if we get some movement.

You also may want to check out my weekend post titled Market Breadth – it’s a continuation of the weekend update I posted a week earlier.

Cheers,

This entry was posted on Monday, February 11th, 2013 at 8:26 am. Both comments and pings are currently closed.



  • bullregard

    Gravity is strong this morning.

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

    Went long ES. Cant see much from zero yet, but it looks like we are bouncing at the bottom of the vwap.

  • Skynard

    Hehe, /ES looks weak for a change:)

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

     yeah, cleared off 2/3 for a cheap profits and just reloaded..

  • ridingwaves

    DMND might short squeeze..blackrock is in for 2million shares per sec filings…short ratio above 12..
    DD required…hiccup is debt…hoping for pullback as it’s up 10% this morning

  • Joe_Jones

    on a lighter note:
    Nymphomaniac Convention 
    A man boarded an aircraft at London ‘s Heathrow Airport for New York,
    and taking his seat as he settled in, he noticed a very beautiful 
    woman boarding the plane.
    He realised she was heading straight toward his seat and bingo – she took the seat right beside him.
    “Hello”, he blurted out, “Business trip or vacation?”
    She turned, smiled enchantingly and said, “Business. I’m going to the
    annual nymphomaniac convention in the United States …”
    He swallowed hard. Here was the most gorgeous woman he had ever seen sitting next to him, and she was going to a meeting for nymphomaniacs!
    Struggling to maintain his composure, he calmly asked, “What’s your
    business role at this convention?”
    “Lecturer,” she responded,” I use my experience to debunk some of the popular myths about sexuality..”
    “Really”, he smiled, “what myths are those?” “Well,” she explained, “one popular myth is that African-American men are the most well endowed when, in fact, it’s the Native American Indian who is most likely to possess that trait.
    Another popular myth is that French men are the best lovers, when actually it is the men of Greek descent.
    We have also found that the best potential lovers in all categories are the Irish.”
    Suddenly the woman became uncomfortable and blushed. “I’m sorry,” she said.
    “I really shouldn’t be discussing this with you, I don’t even know your name!”
      “Tonto,” the man said. “Tonto Papadopoulos, but my friends call me Paddy. ;-)

  • Skynard

    Taking profit /SB, WHOA!

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

    yum!

  • bullregard

    proper risk management :)

  • ridingwaves

    doubts on pullback..looks like hedgies are moving in..shorts need to get out…run to 17.45 area seems possible 180sma

  • http://evilspeculator.com molecool

    say what?

  • Rightside_ot_trade

    Really kicking myself on not setting sell stops overnight on GC

  • badflightrisk

    If NUGT can’t hold its current level look out below

  • captainboom

    Do you know the difference between a prostitute, a nymphomaniac, and a housewife?

    The prostitute says, “Aren’t you done yet?”
    The nymphomaniac says, “Are you done already?”

    The housewife says, “Beige.  I think I’ll paint the ceiling beige.”

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

    what the Hell..i’ll pick up a few lottery tickets at 4.44

    http://s7.postimage.org/ud8bbrg8b/lottery.png

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

    ha!
    the paint job will cost the most.
    tee hee.

  • Joe_Jones

    LMAO!!! Good one.

  • AmazingLarry

    Why use a leveraged ETF with wicked decay as a gauge when you can get much better precision with XAG, GDX or the big daddy HUI?

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

    maybe BPGDM will be in the basement by then. it’s been on an IV drip forevvvver.
    http://stockcharts.com/h-sc/ui?s=$BPGDM&p=D&yr=1&mn=4&dy=0&id=p83993028351

    on second thought, ditch NUGT, better GDX.

  • AmazingLarry

    Yes! That too. Just when you think the sector is crawling out of its coma, it starts flatlining again. For a better perspective, look at a 10 yr chart of the HUI. This guy covers it well: http://2.bp.blogspot.com/-H1OvN4Mzia4/UOdcD-HH4dI/AAAAAAAACO4/jpOI7-2eijY/s1600/111.png

  • Skynard

    IMO it failed to gap above resistance and that shows weakness:)

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

     I used RGLD and FNV as early indicators for miners in the past. For whatever reason they usually bottom first. ATM I don’t see any kind of bottoming action.
    JM2C, but I don’t even bother with miners. Last two canadian conferences where horrible – people actually had a fist fight.
    If you want to play with “pinnless hand grenade” – why not try TAN (solar), SEA (shippers), atleast they are not falling into bottomless pit…
    And for really brave – there is always URA and SOCL

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

    a trend line, bah!  I mock at his trend line.
    (have you wondered how ‘they’ found the-bottom of 08?)

    Here:
    http://s7.postimage.org/3vc6gdjhl/amateur_HUI.png

  • ridingwaves

    GS running into 360sma. an ID would help here, looking at going short…

    http://s3.postimage.org/r6h7bt1ur/GS21112.jpg

  • http://evilspeculator.com molecool

    Ouch!! What did I say just the other day? It’s coiling up and a big move is coming!!!

  • badflightrisk

    Just another piece to look at when watching for trend confirmation or change.  I watch it at inflection points as it seems to respect key areas just like everything else.  Since it moves faster it challenges them before the index does and a failure is just another indicator for direction. 

  • Skynard

    Caught a bit a luck with /NG rampage, short from 3.28.

  • ridingwaves

    alright who jumped in front of me…

  • Pervergence

    DX might be painting a bear flag….15 min…..nice impulse down…..then flag

  • Rightside_ot_trade

    Currently I see no edge so making other trades

  • AmazingLarry

    Made bank last year on that bounce trading FSM and GOLD. Then flipped to DUST on the downdraft. No play positions ATM. Patience is a virtue.

  • Pervergence

    DX……just like it’s supposed to go……classic flag

  • Pervergence

    Jumped on SI long when the dollar broke

  • AmazingLarry

    I knew you’d come thorough for me, buttercup. ;)

  • http://evilspeculator.com molecool

    Man, ICE has been on a rampage!

  • Skynard

    Die Bitch, (unemotionally:)

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

    I don’t believe in this Lunar(cy) stuff.  New Moon Yesterday.
    and 13, don’t get me started.
    hey, wait a minute.. ;-)

    http://s7.postimage.org/cm9nauw2z/beafraid.png

  • Skynard

    Got off the train a tap bit early, will catch the next one:)

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

     This ugly f…
    Bring back “Bud Girls”,
    pleeeeese

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

     (wispering)
    go-go

  • 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://evilspeculator.com molecool

    Look guys – it’s like meeting girls – as long as you care if she calls she won’t.

  • http://evilspeculator.com molecool

    I would probably close EUR/AUD out right now. It’s not picking a direction and this ST setup has lost its luster.




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