Now Reading
Tuesday Morning Briefing
95

Tuesday Morning Briefing

by The MoleJune 11, 2013

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.

Yesterday afternoon I suggested a speculative short entry below that 25-hour SMA. Interestingly enough we were but a handle or two away from switching back into bull mode but that NLBL on the daily panel held like a rock and thus the bullish case still remained questionable in the face of overhead resistance. The 25-hour entry has paid off overnight and I would suggest you take partial profits.

Similar musings on the YM and the NQ for that matter – they are all in sync. As the spoos are now dropping below the 100-hour it is permissible to keep a few contracts in the running with a stop above the SMA. Perhaps this thing has legs and perhaps they’re just trying to scare the children again. We shall know in a few hours when the NYSE session brings in a bit more participation.

I parsed through my favorite charts and unfortunately there’s slim pickings today – we’re seeing a lot of squeezes on the FX front in particular and bonds are getting killed this morning. No entries in sight I would feel comfortable taking. But that’s part of the game folks – it’s important to know when it’s time to trade and when it’s time to just sit and wait. See you in a few hours…

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

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.
  • DarthTrader

    ” land of the graying sun.”

    Excellent word craft there Schwerepunkt!

  • Schwerepunkt

    Thx. BTW, anybody else think Cable a bit overextended on the daily?

  • Skynard

    WTF, everything is down today! Not good for global markets.

  • Schwerepunkt

    No, not good. And it makes going short that much less likely to make you money.

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

    Spoos Inverse-T progress.

    Yep, back around that magic 38.2% Mental F (fib) line.

    could bang around here for days, like back in May.

    http://s22.postimg.org/iz5ldl50h/temp2.png

    -DG

  • Skynard

    Time for the dollar to rise me thinks

  • Schwerepunkt

    What do you make of Cable? Seems pumped up on air to me at this level?

  • Skynard

    Have not been following. Right now have been on EURUSD, AUD, /DX

  • http://evilspeculator.com molecool

    Apparently there was an explosion at Atlanta airport. Nothing else known yet.

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

    wait, you didn’t watch the news?
    hope no kids were harmed.

  • Schwerepunkt

    Are you sure? I know Richmond Airport was evacuated due to a “threat.” Have seen nothing about Atlanta.

  • Schwerepunkt

    OH, now I see it. Explosion in a maintenance shed. Not to worry.

  • http://evilspeculator.com molecool

    I dunno – saw it in my twitter feed. Let’s wait for details…

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

    Stocks, bonds and Gold falling together
    Dollar and Euro down at the same time
    Molecool reading news-feed

    Year of cicadas

    We are doomed

  • Joe_Jones

    Very strong ZL signal at the open

  • http://evilspeculator.com molecool

    Yeah, but were *you* short equities last night?

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

    Actually, been short on and off for a while. My present SDS, QID, TZA and HDGE are still underwater, but not by much.

  • http://evilspeculator.com molecool

    You guys would do better follow the charts than use the Mole as a contrarian indicator. My track record is public and speaks for itself.

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

    I would never think of you as “contrarian indicator”. Not at all
    Was just making a joke
    Think nothing of it

  • DarthTrader

    Russell 2000 very strong Bullish divergence in RSI

    on the 15 min chart so not world changing.

    forgot what chart I was on . .

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

    not seeing it

  • ridingwaves

    DMND and QCOR not so..

  • newbfxtrader

    short at 1.58 on touch of wedge.

  • tradingmom

    http://screencast.com/t/gpMppxmKFzEF

    sorry, I haven’t managed to learn how to post a pic, but I’m working on it.

    See the megaphone in the rough hourly panel?

  • DarthTrader

    I didn’t post a chart but here is the chart

  • Joe_Jones

    leeches rejoice 😉

  • DarthTrader

    Hi TM when you are typing a message look at the bottom left of the box you are typing in . . . You will see a small white and gray icon . . . Click it then scroll thru images stored on your computer. I cut and paste to Paint program found in most windows computers. then clean up image and save it. taking note where it is saved

  • Schwerepunkt

    I’ll have a Lychee Martini.

  • tradingmom

    I’m trying. And I saved the other hints I received too. Its just that I already have about 25 open windows and 50 million things saved to my desk top.

  • Ronebadger

    different chart pattern for the $RUT

  • Spalding

    Hello all, newb here. Great site, love what I see. Looking forward to learning about short term trading.

  • ptosh

    mole: thank you. your 1645.75 and 1641.50 points of interest kept me in the game short IWM overnight. out this morn on the fleeting gap down and dip.

  • DarthTrader

    Well let’s post a picture . . . now

    Click icon in bottom left then go to the Pictures file on your computer select a pict then Click the post as tradingmom button at bottom right

  • DarthTrader

    Yes I should have said Russell Futures

    My Bad

  • tradingmom

    I don’t trade forex (insert lecture from Mole here!) but if I did, there was a fascinating megaphone on the hourly EUR/USD chart you would be able to see, if only you ponied up a mere $49/month. Seriously, its worth it :-)

  • Schwerepunkt

    Gravestone doji on the GBP.USD hourly.

  • tradingmom

    Okay. I see the icon. Here’s my problem. If I’m in stockcharts. com, and I want to annotate a chart, I need to be in that annotate mode in order to draw lines. And then I can’t seem to copy it onto my desk top. And I can’t annotate on Mole’s zero charts unless I’m in Jing.

  • tradingmom

    (is this what happens to everyone after age 40? Thank goodness i have children to help me with the remote control. And you should see my parents.)

  • newbfxtrader

    probably better to wait for a tag of 1.58.

  • Schwerepunkt

    Yeah, but I’m getting itchy fingers.

  • Spalding

    Question about trading platforms. I have used Interactive Brokers and Stockcharts for the last 2 years. I see that TD Ameritrade is used here. IB and Stockcharts seem to be a little limited in what they offer for short term setups. How does Ninja Trader compare to TD Ameritrade? I dont really want to change brokers… Thanks

  • newbfxtrader

    lol

  • newbfxtrader

    try usd/zar short for today.

  • DarthTrader

    On the positive side . . .

  • DarthTrader

    OK While in StockCharts Annotate mode. Click the Actual chart you want to copy right before you do this or it will copy whatever else you clicked last. Then press the “ALT” button and the “Prt Scr” button at the same time this will copy just the screen you clicked (if you have multiple monitors this is nice) Now you have that image copied paste it to Windows “Paint” program cut out what you want to keep, clear everything by “select all” then “clear all” else paste back, then Save Then Post

    ASk questions til we get this done OK

  • tradingmom

    i have to go out — my kids have an appt. I will be back! I will keep at this. (constant interruptions also interfere with learning something new :-)

    Thank you!

  • ridingwaves

    what the heck, full thrust..

  • Joe_Jones

    I am a sub TM 😉

  • Joe_Jones

    I guess the market had to shake the weak players before resuming its bullish stance.

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

    I did I did and Lovin it

    When the market gives you a gift, you should show your good manners and accept it.

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

    I’d agree with the shakeout statement.

    IMHO,
    2 days the Treasuries panic’ed, and then it was status quote with original trajectory.

    http://stockcharts.com/h-sc/ui?s=$SPX:TLT&p=D&yr=0&mn=3&dy=0&id=p94902809436

  • ptosh

    nice call from 2 hours ago.

  • newbfxtrader

    or gbp/aud or eur/aud shorts will do too.

  • amokta

    Ok, now that we have closed the gap, let the down-trend resume?

  • Bun Dance Kid

    But haven’t we breached the NLBL?

  • Skynard

    Bulls salivating on the IH&S hourly. Hehehe:) Trend weakening, time for reversal!

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

    there you are. where did you go?
    visit your son?

  • ridingwaves

    the 10 yr is still an issue for housing…of course when the fed throws PE and Hedge funds bulk foreclosures for pennies on the dollar whom is financing a house anyways..
    40% cash sales…tells me that collusion and pricing fixing are the norm

  • Skynard

    Hehe, went to Orion concert to see Metallica over the w/e. Wow!

  • amokta

    Ok, good thinking!

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

    Metallia who? he he

    Price – nothing else matters.

    http://www.youtube.com/watch?v=tAGnKpE4NCI

  • Skynard

    After 30 years, they still are unbelievable. Todays music is just a fad:)

  • Bun Dance Kid

    Seems to be still making up its mind, but looks to be right on the NLBL

  • bdoone

    And now the 25hr sma sitting close by 1637.50 explains why we sitting around here for past hour: the pause that resfreshes… I guess we’ll see who takes control after some lunchtime whipsaw.

  • Joe_Jones

    Shit, that must have been awesome!

  • Joe_Jones

    That’s an appropriate pic. LOL! Pee 3 denied!

  • Bun Dance Kid

    I’m no expert in reading the Zero, but could be we’ve seen something of a decision, albeit tentative

  • Skynard

    Dude, they were supposed to have a tribute band play for them Sat and it leaked out they they were actually going to play. Got to the stage early and was 30 feet from the stage. Mosh, incredible!

  • Skynard

    Carving out a bull flag 5 min, shall see.

  • http://evilspeculator.com molecool

    LOL – agreed!!

  • tradingmom

    So, I don’t use paint much. I managed to get a chart copied into paint — now how do I clean it up?

  • Bun Dance Kid

    Thank you Zero. You just covered my monthly sub.

  • Joe_Jones

    Now that’s the kind of leak I would enjoy. 30 feet from the stage….I’m red jealous. 😉

  • Schwerepunkt

    Metllica? Meh. Led Zeppelin and Pink Floyd fan myself.

  • amokta

    Good going!

  • http://dartht.blogspot.com/ Darth_Gerb
  • Bun Dance Kid

    Thanks. Been a bit of a rocky ride the past few trades, but Z proved its worth again today.

  • amokta

    Anyone like Caramel NUGT?

  • Daron

    NG just lost weekly support (another reason to be short)

  • Schwerepunkt

    Sit down and be quiet. We’ll get there, when we get there and not before. :-0~

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

    but I’ve got to PThree…. (clever eh?)

  • Guest

    don’t know. Ask the kid

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

    If we break today’s low, then i will not be held responsible for collapse of financial markets :-)

  • amokta

    The last men standing may be Mr Spx, Dr Dow and Herr Russell

  • Ronebadger

    re: your chart, one man’s heaven could be another man’s hell

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

    break today’s low? nonsense. no worries.
    that’s usually done after-hours. 😀

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

    ain’t that the truth. Now, would that apply to women as well?

  • Joe_Jones

    nice positive div on 5 min ZL (so far)

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

    Works for me
    The way advance-decliners look to me – we are going to open 20-30 points lower someday soon and just keep on going.
    I actually thought that today was the one … he-he

  • ridingwaves

    DCTH-penny place with some room to run if news hits..lots of people buying down here…approved in Europe for chemosat..stop at .40 seems safe for a gamble…maybe see if it drops down to .42-3 for entry..

  • 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„¸

  • buysidetrader

    once again, comes thru