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.

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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Cheers,

This entry was posted on Monday, December 17th, 2012 at 8:44 am. Both comments and pings are currently closed.



  • Skynard

    Mole signals should be effective today:)

  • captainboom

    That’s talking your book!

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

    slept in this AM, I took the week off, woohoo.

    Dollar Heads up.

    http://s12.postimage.org/ar07x2ga3/dollar_down.png

  • ridingwaves

    XLF-Will it lead the market higher…it’s lagging the rise, will financials be the shining star over next weeks…they seem to be heating up…

  • Joe_Jones

    Jeez, I should have called it quit back in June

  • Microwave_Prince

    Yesterday, someone who works at IBM (for a long time) told me 95% of their American “employees” are now outsourced from other countries. They are only a skeleton of a corporation in the US. She was really excited about it. Also bragging about how the stock has doubled in 2 years. That company is so fucked when the dollar//interest rates/oil rise. My long term target is $20.

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

    you had a nice run in Oct/Nov, come on – admit it.
    ;-|

    http://stockcharts.com/h-sc/ui?s=$BPSPX&p=W&yr=1&mn=0&dy=0&id=p71287178990

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

    The Bearish P&F objective is $168.
    how about starting there?

  • Microwave_Prince

    I don’t pay attention to P&F charts.

  • MrMargin

    So you prefer to grab price targets out of thin air instead? Sounds reasonable…

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

    I dunno, 11 Billion in cash assets and a dividend under 2%.
    it could stay in biz for a while and not reduce it’s dividend.

    btw, it’s dividend has been increasing.
    http://www3.valueline.com/dow30/f4786.pdf

  • Microwave_Prince

    Hundreds of ways to analyze a chart.

  • Joe_Jones

    What annoys me is the non-stop whipsaw. Come on market, pick a direction and stick with it for a couple of weeks at least. This F volume hole is giving me a rash. I might just give up trading until January next year.

  • MrMargin

    Yes, some are based on sound principles while most are based on wishful thinking on the part of whoever is looking at the chart. Without disclosing how you arrived at your conclusion, I assume it’s the latter.

  • Joe_Jones

    Btw rats, ISEE equities numbers are rather strong this a.m., so you know what that means.
    http://www.ise.com/WebForm/viewPage.aspx?categoryId=126

  • http://evilspeculator.com molecool

    If you want my macro economic opinion: The United States seems to be hellbent on destroying their industrial base as well as any remaining vestiges of its employed middle class. Everyone is supposed to be in the service sector now which is simply ridiculous. I see the same shit over here in Europe if it’s any consolation. Meanwhile all countries involved are engaged in a race to the bottom with their respective currencies. This path only benefits large corporations and means tears and suffering for everyone else. A few years from now the West will be second rate compared with China, India, and places like Chile or Brazil. 

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

    yep.  when it’s not working.  walk away.
    on the good side, at least the Master Mole made us aware of the V. hole.
    keeping us from being A. holes arguing over wave counts. ;-D

  • Joe_Jones

    You got that right Gerb

  • Joe_Jones

    Atlas Shrugged developing in slow motion. 

  • http://evilspeculator.com molecool

    This is my take on it – except for the quick spike down and the ensuing reversal we have been stuck in a cluster of pain between 1390 and 1430 (see the image). As long as we stay in this cluster expect more pain.

    There was one preceding this one as well, so it’s been tough on the equities side. Which however is the reason I keep talking about other markets. The sad truth is that I could probably double my audience if I would solely focus on equities and stocks. I guess misery loves company. But I am trying to get retail traders to look at FX as well as there are almost always solid setups to be had.  

  • ridingwaves

    SGY is starting to look tasty…in support cluster right now…keeping it on watch list…

  • ridingwaves

    Kona is nice right now…eat some pineapple, a couple papaya’s, have a cup of Kona gold, then jump in the water for a swim with dolphins, then go surf Banyans for a while….repeat daily….

  • http://evilspeculator.com molecool

    If you’re frustrated by the recent whipsaw then look at this chart. And let’s not forget how much purchasing power the Dollar has lost in the last decade.

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

     Reading it right now. Incredible book

  • Joe_Jones

    need more coins to retire first

  • Joe_Jones

    Yup. I wish I could jump into a time machine and go back 60 years.

  • newbfxtrader

    A bit more and I gotta say you got a nice head and shoulders going on there. 2014?

  • http://evilspeculator.com molecool

    I built one but Stewie borrowed it.

  • Joe_Jones

    LMAO! :)

  • Pervergence

    Marxist economic theory at work…….declining wages, increased militarism

  • Joe_Jones

    Adding to short QQQ. Full position now.

  • ridingwaves

    and lots of printing…for years to come…deflation-the other white meat..

    FED’s LACKER: Reaching 6.5% Unemployment Rate (as per Fed’s new target) may take 3 years.

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

    German engineering at it’s finest

  • Pervergence

    Swiss Franc still rockin

  • Skynard

    SPX cleared resistance and the volume hole. Run Forest Run………..

  • Pervergence

    Sugar squeeze

  • Microwave_Prince

    Oil is the killer, not the irrelevant debt issues (fed, fiscal cliff, etc).

  • BobbyLow

    Yes it tis.

    Still Short NZD/CHF and AUD/CHF.  Also still holding Longs of EUR/JPY, USD/JPY, and EUR/AUD.

    Edit – also now long oil

    A lot of last night’s move has worn off in my JPY Pairs from the knee jerk reaction to Japan’s election of “Honest Abe”.  But that’s not surprising after such a massive  move last night.  We’ll see what happens going forward.

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

     Oil ?

  • Joe_Jones

    a tad early as usual

  • ptosh

     short too from 65.40.  hang in there. 

  • Microwave_Prince

    Yep, while Americans are bitching about guns, terrorists will be launching these Russian Iskander missiles from Syria at Israel, Saudi Arabia, etc.

  • http://twitter.com/NobodyTrader Nobody Trader

    Somebody needs a hug…

  • Skynard

    /ES 1420 back test w/ 5 min div in place:)

  • Microwave_Prince

    Would that be you, troll? Touched your button obviously.

  • Joe_Jones

    You got that right, LOL!

  • MrMargin

    Yeah, right…

  • http://evilspeculator.com molecool

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

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

     Ha-Ha-Ha.
    I actually served on similar missiles back in 80′s. They didn’t work then, Im sure they are just the same pile of garbage now. If russians sold them to …(input your favorite terorist/freedom fighter) , than more power to russian financial ingenuity, cus Russian military equipment is real junk.
    P.S. Don’t worry about Israelis either. they can hold their own with or without our help.

  • Microwave_Prince

    Israel is finished. Islamists (and soon Russia) have already taken over the Middle East.

  • Skynard

    Long again off VWAP:)




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