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Tuesday Morning Briefing
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Tuesday Morning Briefing

by The MoleMay 26, 2015

Welcome back! I trust everyone enjoyed a most relaxing Memorial Day weekend. Wish I could say the same but I was busy with a long list of chores and extended weekends are usually a great time for me to catch up.

2015-05-26_spoos_briefing

Now I’d love to hit the ground running this morning but much to my chagrin I don’t see a single chart I like right now. Equities are still in Cantonese chef mode and I have little desire to get involved here. Noteworthy however is that we are still holding above a daily NLSL (2113.25) and now there’s a brand spanking new weekly NLBL at 2114.75. And even if we lose that one there’s a ton of accumulated context below.

Not sure if you heard but Spain held local elections and various far left parties wiped the floor with the ruling conservatives. Not really surprising given that a quarter of the work force is unemployed, and voters clearly seemed determined to punish those in power.  Investors are now worried about the general elections in November which may push the political landscape in Spain even further to the left. Accordingly the EUR tumbled to below 1.09 and has recovered a little since.

Let’s see if we get a bit of movement later in the session.

 

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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.
  • Skynard

    Dollar reversal and all systems are go:)

  • http://evilspeculator.com molecool

    Looks like people are taking an extended weekend – hehe

  • Billabong

    DX still up a buck … pretty strong move. Mole’s [ :-) ] probably happy to see 6E heading down.

  • http://evilspeculator.com molecool

    Indeed! Already went to the ATM this morning as well :-)

  • mugabe

    I think corruption was a big deal in the elections.

    If these results are replicated in the general elections, the parliament will be a real clusterfuck.

    Not sure if these parties really are ‘far left’ (except by US standards, lol). This has been a sobriquet used by the mainstream press to scare off voters – and no, I didn’t vote for them.

    Btw, the results coverage on Spanish state TV was appalling … so biased it was laughable.

  • Billabong

    Some serious down moves this morning; YM, CL, GC, SI, NQ, etc… Anything can happen mode.

  • http://evilspeculator.com molecool

    By US standards they would all border communists – I think one of the winners in the locals actually belongs to the communist party.

  • mugabe

    you must be the only person in spain using the ATM as a speculative operation!

  • newbfxtrader

    You probably the only one looking at charts before hitting ATMs.

  • mugabe

    there’ll be quite a lot of back pedalling by the ‘far left’ … podemos already started a few months ago.

    my guess is that in the general elections there will be fewer protest votes .. municipals are renowned for this, although the situation is definitely ‘fluid’.

  • mugabe

    this is interesting on universal healthcare from Rand Paul:

    http://pjmedia.com/tatler/2015/05/25/sarah-silverman-vs-rand-paul-on-free-healthcare/

    To a European mentality, it sounds totally nuts.

  • http://evilspeculator.com molecool

    That’s not a mentality – its all part of manufacturing consent. You seed shit like this into the media for decades and a whole generation is brainwashed to believe that universal healthcare is a patently bad idea. I only ever have seen this mindset in the United States and it’s been literally ‘bred in’ over the past few decades. In the end just follow the money – who does this benefit the most? Cui bono?

  • http://evilspeculator.com molecool

    Yeah, I heard – it’s politics of course.

  • Skynard

    Crude showing lower highs, although think we have a good squeeze comimg. Trying a long now with a higher high in place. Short again below 58

  • http://evilspeculator.com molecool

    You got me mate…

  • http://evilspeculator.com molecool

    I actually use a lot of cash so you guys can’t blame me for timing it – hehehe

  • mugabe

    yeah, and the words used- socalised medicine ie socialised = socialism.

    don’t see what it’s got to do with U2, though :)

  • Billabong

    $58 … is also my point (and probably 10K other traders)…

  • Skynard

    Need a W5, looking for 58.50 to hold.

  • mugabe

    they must think there’s a run on the bank after your visits

  • Skynard

    Good timing:)

  • Billabong

    W5?

  • HeadNShoulder

    Having a crappy internet connection this morning with TOS platform totally freeze atm. Luckily, seriously I have another important working indicator refreshing every 1min on other screen, geez. Thanks Mole, this comes in really handy. (and I have different trading platform still working, damn TOS can’t figure out why it “eats” that much memory?….

  • Skynard

    Final wave to squeeze the shorts then short again.

  • jmoney3000

    Zero looks interesting right now. Holding in there despite continued price weakness

  • Skynard

    Looking to take partial /ES 2100

  • BobbyLow

    Over this weekend, my son wiped out my Windows 8.1 and replaced it with an old version of Windows 7. What a pleasure it is to have a clean operating system without a hundred things running iin the background that I’ll never use. We had to hunt and peck for drivers and wait for a few hundred Windows Updates but it was worth it. My TOS platform is now running very smooth and my computer does not lock up like it did before. IMO, it’s not TOS that’s using too much memory.

  • Skynard

    Rut Roe

  • HeadNShoulder

    Great to know, thanks alot.

  • captainboom

    That needs to be in my long term plan. Use cash for as much as possible.

  • Skynard

    Full short again, move is weak

  • Skynard

    Tough call here, sticking with the hourly. Trend day:)

  • BobbyLow

    I’m glad that I put crude on a “time out”. Trying to catch a swing on anything other than intra-day has been kamikaze like. Good for those who can do it but for me, as Clint said “A man’s got to know his limitations”. :)

  • BobbyLow

    I agree totally!

    I mean what do people think that the advertising against universal health care is being paid for by atruistic individuals who want to help us? WTF?

    I’m old enough to be covered by Medicare which is “Gubmint” Run and I have no problems with it whatsoever. There are millions of active and retired military covered by “Gubmint” run healthcare. And then there are those covered by Medicaid “Gubmint” run healthcare.

    And then there are the rest of the “suckers” who have to pay $15,000 to $20,000 per year to cover their family.

    And I don’t want to hear that our Canadian Friends are always complaining about having to wait for elective surgery etc. I met quite a few Canadians when I lived in Florida and although having to wait was an issue, I have yet to meet one Canadian who would swap their system for ours. Perhaps there are some here on ES who would swap but I doubt it.

  • Skynard

    Where is the PPT?

  • hellbent

    Been contemplating that move myself. 8.1 is madness and combined with manufacturers bloatware my new computer is the slowest I’ve ever had, and damn annoying. Weary of diminishing returns though and going to wait for 10. If that disappoints, seven it is…

  • Skynard

    Remaining long on crude.

  • newbfxtrader

    Zero is alive today :)

  • Skynard

    Much participation, big honker coming:)

  • http://evilspeculator.com molecool

    SHIT – I just got back from running a ton of errands. Jeeezzz – what did you guys do?? 😉

  • newbfxtrader

    Zero is alive!

  • http://evilspeculator.com molecool
  • http://evilspeculator.com molecool

    Fucking A!

  • BobbyLow

    10 should be available soon for free to most everyone with older Windows systems. I’ve also read that Windows 7 is going to be supported until the year 2020. So I’ll wait until my computers die which are 2 and 4 years old then I suppose I’ll have no choice but to buy a computer with Windows 10 already in it. I will not replace my existing Windows 7 that are in both computers with 10 even if it is free. Not after my experiences with 8 and 8.1.

  • Skynard

    Strength in numbers ya know:)

  • Skynard

    Reduce @ SPX 2100

  • hellbent

    Nothing there… but this is an XP machine, guess I’m in the dark.

  • Skynard

    ZL firmly in neg teritory.

  • Billabong

    It’s a trend day!

  • http://greenlander1.blogspot.com/ greenlander1

    Closed intraday short in SPY, going to wait and see what kind of reaction we get tomorrow. Oil is looking interesting here.

  • http://evilspeculator.com molecool

    No kiddin…

  • BKXtoZERO

    see……….. Prechter was right!

  • Skynard

    2100 level tested, reduced short. This thing could have some leg.

  • http://evilspeculator.com molecool

    ___ ___ ___ __ _ _ __ __ ___ __ _____
    | __| _ __/’ _/| || | | V | __|/ _ _|
    | _|| v / _|`._`.| >< | | _/ | _|| / || |
    |_| |_|____|___/|_||_| |_| |_|___|_||_||_|

  • evilasevildoes

    trin is 2.00