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Archive for June, 2012
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June 29, 2012

The Woodshed

Everyone was invited to the woodshed this week and apparently many decided to dress up and attend. As someone suggested in kind this morning – the Mole woke up and had to watch his USD exchange rate being stomped into oblivion. Anyway, based on what I’m seeing on the Zero only a small minority of traders benefitted from today’s Euro drama sponsored short squeeze:

I’ve added another day to the Zero Lite chart to show you how minimal the participation today in comparison to what we saw in the past few weeks. Looks to me a good number of hobby bears got taken to the cleaners today.

In particular if you held puts overnight – or [...]

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June 28, 2012

Eclectic Thursday

I really don’t have a central theme today so please forgive me if I simply post a wholesome medley of market musings, updates on previous entries, setups, etc. As usual we start with the spoos which seem to be painting a step down pattern.

I am not sure if that’s an official term but to me it depicts a slow descend from one resistance/support zone to the next. First it was the 100-day SMA (always a pleasure) – and more recently it was a Net-Line Sell Level (NLSL). Next target zone is around 1288 where we find the bottom of our 100-day Bollinger.

The volume profile chart shows us that this is also where we should be running out of volume [...]

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June 27, 2012

Narrow Range Inside Day Mania

I hate to plaster all over Fearless’ most brilliant browser buster but we have setups to attend to. More specifically there seems to be something brewing on the Dollar side as I’m seeing various pertinent pairs paint inside day + NR4 combos. And you know how much I cherish those:

Alright, one for free the rest is for my subs: EUR/USD – I think it’s running a bit out of steam here, would love to see a visit of that NLBL above.

[amprotect=nonmember] More charts and cynical commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a [...]
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June 26, 2012

Quick Comment Cleaner

I’m in Madrid for a few days and won’t have much time for a post tonight. However, I did promise a quick comment cleaner and based on the tape I’m seeing we may be looking at a tradeable setup:

There you have it – possible inside day + NR4 on the spoos. The NR4 part may change [UPDATE: it has – see new chart above] – the inside day has pretty good odds of holding [UPDATE – and it did]. You know the rules I’m sure – if not please consult the cheat sheet.

By the way – be careful out there. This tape seems engineered to whipsaw people into pieces. If you take an entry tonight then keep a watch on the AH [...]

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