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Monday Morning Briefing
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Monday Morning Briefing

by The MoleDecember 17, 2012

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.

Not much on my plate this morning. I do like natgas right now, especially if it manages to hold the bounce. It’s kissing the 100-hour right now, thus it’s a great time to get positioned. For the uninitiated I recommend very small position sizing here – she can be a wild one.
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Silver is also at a fork in the road – there’s the 25-hour SMA which may serve has a short term ceiling here. The implications on the daily panel are clear – I would be short here with a stop above the 25-hour. On a breach I want to be long with a stop below the 100-day SMA – or alternatively below the 25-hour SMA. This will be interesting as both SMAs are still moving in opposite directions. Obviously the 100-day takes a lot longer to be swayed thus it’s a pretty solid base to protect any ST long positions. Which one you choose as your stop in the end depends on your trading style.
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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.