Thursday 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.

The Euro is shaking off some overeager longs this morning but call me skeptical – I doubt that this has legs. As long as I keep seeing articles suggesting a reason for the big Euro squeeze to stop it’ll just keep on running, like the energizer bunny.

I can honestly say that this is one of the few commercials I ever missed seeing. Brilliant idea and they should relaunch it. Anyway, back to the Euro – I’m waiting for a long entry near that 100-hour SMA – it hasn’t even touched that one, so I don’t know why people are looking down.

Natgas – still at the knife’s edge – I’m grabbing a long here with a stop below 2.748. Those hourly BBs are really compressing and I’m about to be either horribly wrong or horribly right. 1/2R only for that very reason – tough to get a fill on your stop once she runs off.

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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,