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Stock Slinging
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Stock Slinging

by The MoleJanuary 18, 2017

It seems that most forex and futures symbols continue to run in circles ahead of the Friday presidential inauguration and unfortunately I found little to share on that front. Which leaves us only with stock symbols but fortunately I was able to uncover a few goodies.

2017-01-18_LXP_update

First a quick update on our LXP campaign which I posted for the subs last week. We snagged a pretty decent entry and thus far it’s sticking to the script. Time to advance or stop to near the break/even mark at 10.79.

2017-01-18_APC_setup

APC is a possible long term campaign which is why I’m showing you the weekly and monthly panels. As you can see it’s been trading inside of tight range for the past few weeks and I’m sure it wants out. As it’s near the lower boundary plus given the monthly context I am tempted to grab a long position with a stop below 68.

2017-01-18_APC_financhill

Seasonality courtesy of Financhill – click on the chart or here to look at a dynamic chart plus some juicy stats. I don’t see any red flags here so this is a go for me.

2017-01-18_LOW_setup

LOW has been trading even lower lately but managed to reconquer a daily NLBL plus its 100-day SMA. I’m interested in a long position but only if it drops back down to the 72 mark. Stop would be placed below 70 – how’s that for nice round numbers?

2017-01-18_LOW_financhill

Seasonality very supportive – we’re looking good here.

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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://evilspeculator.com Sir Mole III

    What was that just now?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://evilspeculator.com Sir Mole III

    Nah – I sensed a disturbance in the force…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Yoda

    that was some big 5 min candles on the spoos.

    Market getting ready to celebrate The Don.

  • http://evilspeculator.com Sir Mole III

    For real.

  • ridingwaves

    you sure that is not an oil jobber….

  • Tomcat

    DOW 20K by inauguration ladies and gents!!! Fake news???

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    whatever it takes to kick gold in the ass.

    5min, go gold!

  • StockTalker

    Bearish signal here

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    dam it.
    REVERSE!

  • Ronebadger

    where is “here”…chart?

  • ridingwaves

    actually that is the offspring of darth vader or wilbur ross before confirmation hearing today

  • StockTalker

    Are you a sub bro?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Ross who? I don’t follow news.

    ..oh, what an evil SOB.
    As the owner of the Sago mine, Ross was accused of ignoring safety regulations that cost the lives of 12 miners in the 2006 disaster.

  • Yoda

    bears need to get their act together today or get off the pot

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    this *disturbance* has reminded me.
    I’m like a rat teasing a cobra. Must respect. Must.

  • ridingwaves

    I could see another 2 months of pain for bears, just because bulls can push this sideways to frustrate the living hell out of them….maybe some 3-5% down moves but somehow just maintaining leverage here….always tough to short into earnings season…

  • Ronebadger

    “here” = Zero got it now…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • StockTalker

    See how the 5 min signal has been below the signal line. Stops run both directions.

  • Yoda

    Your time frame is too long for me to trade. For the time being I am just trying to get the OPEX trade right.

  • BobbyLow

    Every week I get at least one reaffirmation that the only truth in the oil market is price. This is (not why price is what it is) but only what it is. Taken one step further, for me this truth is the current price as compared within a scalable momentum of what price has been.

    Whenever I see a decent move in oil price, I scan the news not for anything factual but simply for amusement. Here is a perfect example of this morning’s headline article from the bastion of worthless trading information called CNBC.

    ” Oil prices slide 2% on prospect of rising US shale production”

    So are they telling me that traders just found out about this? WTF? The people who write this stuff are totally full of shit but in their defense, I suppose they have to give some kind of explanation other than that there were more sellers than buyers or vice versa.

    Disclaimer, I remain short and at this point have no idea whether this trade will end up as a small loser, break even, small winner or big winner. I’ve learned the hard way to never be cocky and assume anything other than Price will let me know what to do.

  • Yoda

    Bots are in charge of the tape now. No need to fight them. When they stop playing we’ll know.

  • ridingwaves

    its hyperbole anyways…I have no clue what will happen…I do believe too many are leaning to go short after trump inauguration…kinda of crowded for my liking….

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Agree on most points.
    -1 for scanning news.
    IMHO, you’re reptilian brain is still seeking affirmation.
    KISS.
    😉

  • ridingwaves

    its how you decipher the news that is most important…..
    EX-CPI news is much more important than some reporter talking about dying shale fields….it will be more important if we get a couple high readings in a row so its something to keep in the back of your head….

  • BobbyLow

    Not at all GG. One of the things that I have to contend with my current system is total boredom. I’ll admit to carrying a grudge against the financial media because I allowed them to cost me a lot of money in the past.

    So yes I get some sort of sick enjoyment seeing these assholes put out crappy information. :)

  • Yoda

    The fear and greed index is showing a neutral reading. Tape can pursue a specific direction now for a little while before we get an extreme reading, at which time I would start to pay attention for a reversal of the previous move.
    http://money.cnn.com/data/fear-and-greed/

  • Yoda

    The only time I do pay attention is when Dennis Gartman or the GS’ Forex Desk speak. 😉

  • BobbyLow

    True but price will still let us know. Some of this might be important for a longer term investor but when it comes down to actual supply and demand to the end consumer none of these stats make any difference in the short term. For example from time to time, we’ve all seen EIA reports showing builds week after week for a couple of months in a row all while price was increasing week after week. And the same in the reverse.

    I believe that the supply and demand of oil contracts in the pits are a different story. It is the price action of institutional buyers and sellers that control price not the real supply and demand of the end consumer.

  • StockTalker

    Here we go

  • ridingwaves

    oil is one thing, rising inflation is another ball game all together….the reflation trade will be telling, if the fed doesn’t tap brakes with higher rates it would be brutal for the serfs like us….
    Oil-for me its just hard to short oil with the cabinet Trump is putting in…oilmen don’t change feathers and now layers of support would temper any down moves..

    one place greed is really sticking out right now is in housing,CRE….rental and purchase pricing is in need of 20-25% reset again…

  • Tomcat

    I have the exact same thoughts…many traders at my local gym have this “plan” to short the inauguration… I am not one that likes to go with the grain…

  • BobbyLow

    Mentioning CRE just gave me shivers. Back when I traded mostly with “gut and” “common sense”, I lost my ass shorting CRE back in the day. :)

  • ridingwaves

    shorting against those big boys is brutal..I have noticed that SPG is down 20% off highs so it could have happened already…rising rates will eat in cap rates, thus it was impossible to bet against them in low rate environment with plenty of hot money thrown at them over last 8 yrs…could be better time but I will wait for better confirmation….as you state above its very crucial…

  • Edd

    Amen Bobby. I knew I had finally reached a milestone in my trading last year. I trade gold stocks and RUT exclusively. 4 charts open 10min and dailies. No news, music playing in background. The milestone? Wife asks at the close how did the market do today? I DID NOT KNOW!! Most days I have to look to find out;I did not care and I honestly knew that I did not need to know. I update my records after the close, analyze my system performance, measure my performance for good and bad and shut it down. I read some fake news and doom porn at night passing out in front of TV. How will the market do tomorrow? I do not know and I do not care. I have never traded better than I do now.

  • http://www.captainboom.com/ captainboom

    At a recent meeting of a real estate investors group I belong to, one of the members gave a presentation on the house flipping he’s been doing. Over 100 houses in the past few years in SW Michigan. He’s got an investor with deep pockets out of Texas that he works with, and he does the local legwork.

    Mr. Deep Pockets is thinking there will be a ‘real estate party’ come late 2017. What goes around comes around…

  • evilasevildoes

    Bobby what platform you using for point and figure?

  • Tomcat

    A wealth of information in this thread. Thanks for posting. Much obliged.

  • Mark Shinnick

    Short miners. Stops tight.

  • StockTalker

    Hehe

  • BobbyLow

    That’s fantastic Edd. I’m glad to see that you are doing so well!

    Right now, I’m listening to WEEI Sports Radio out of Boston on my computer. They are talking mostly about the Patriots and their chances against the Steelers on Sunday. I have my fingers crossed but you never know.

    Speaking of music, after football season, I’ll get back to having 60’s music playing during the day or will even flip to a little DooWop from time to time. :) I also jump on my treadmill to keep my blood flowing.

    Other than that, there’s not a lot for me to do during the trading day because I’m using a 195 Minute chart for Oil UCO/SCO and the RUT via UWM/TWM so the most important times for these are the closing of the 9:30 Candle at 12:45 PM and then again just before the COB. I use the Daily for Long Term Bonds via TLT/TBT so just before the COB is important on this one.

    I’ve been waiting for an entry on the RUT but it’s been slicing and dicing for about a month now. Have to be patient.

    Looks like your system is working great for you and that’s super. :)

  • Mark Shinnick

    Yeah, totally full of shit..its talk not objective price. Keep it up because talk is useful for the subjective tools we hone to be true to what’s objective.

  • StockTalker

    In the zone and taking advantage of it. Cleared 1 /NQ @ 5040 and cleared 1 /CL @ 52.35. Re-shorted /CL @52.75. Net short

  • BobbyLow

    My trading platform is Think or Swim. I havent used Point and Figure charting for a long time. Although it can be surprisingly accurate and does not factor in time, I had difficulty using it when it came to my entries and exits. So I’ve been using nothing but BB’s and ATR on my charts for quite awhile now.

  • ridingwaves

    a down move with vicious short covering rally seems the norm..

  • Mark Shinnick

    Thanks for this.

  • StockTalker

    Will be Long /CL @ 51.98 FOR A BOUNCE

  • BobbyLow

    Looks like you’re having a very good day. :)

  • StockTalker

    4R so far

  • Yoda

    Jeez, this is worse than watching the paint dry

  • saltwaterdog

    I read today that we are about to put up the 67th day in a row without an SPX close down 1% or more. I looked and since July 1st, when imo things really went dead and the whipsaws started to be routine, we’ve had just 10 days where the market has been either up or down in excess of 1%. In the last 138 trading days. brutal.

  • Mark Shinnick

    Stagnant, festering waters.

  • http://evilspeculator.com Sir Mole III

    Not making my job any easier… sheesh

  • http://evilspeculator.com Sir Mole III

    “The people who write this stuff are totally full of shit”

    It’s the job they have been given and for some reason people actually spend their time reading it. Nothing but hindsight nonsense.

    All you need is a chart and an objective mind. Everything else is just noise.

  • BobbyLow

    Beautiful!

  • http://evilspeculator.com Sir Mole III

    Wrong universe.

  • StockTalker

    Trigger long

  • StockTalker

    That’s the idea to frustrate retail traders.

  • StockTalker

    Looks like the 5 min is about ready. Yellen up today

  • Mark Shinnick

    Who comes up with ideas like that?

  • BobbyLow

    Nice one and you’re definitely in the zone today.

    I don’t have the stamina to day trade any more so I try to find a trend that can run for a few days or longer. I can have a lot of misfires but when a run takes off, it can be pretty sweet.

  • Mark Shinnick

    Exited short miners…may re-enter a bit later.

  • StockTalker

    Lol,

  • StockTalker

    If we get a sell off pre Yellen, somebody leaked.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • ridingwaves

    AGN might have completed that cup and handle discussed, that 208 long tail candle from 1/12 sets up good stop…226 is first hurdle…

  • Mark Shinnick

    Ok, so rebot at that little dip…see what happens.

  • Tomcat

    I have been scalping it so far.

  • Yoda

    Humans no need to apply today for traders’ jobs.

  • Mark Shinnick

    Ok, out after some more upside… this trade could still develop so see what happens. We need to note a bunch of upside gld gaps since December.

  • ridingwaves

    my eyes could be deceiving but looks like a end of day bullish buy program in bio-healthcare…ibb xbi etc..

  • http://evilspeculator.com Sir Mole III