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Friday Morning Briefing
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Friday Morning Briefing

Friday Morning Briefing

by The MoleMarch 21, 2014

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 E-Mini has been soldering higher overnight and as I’m typing this is already above our IP-L trigger whilst nibbling on that NLBL that still stands in the way. A push above it would trigger a long.

However if you are a sub then you know that I’m already long as I liked the Russell futures quite a bit better. Smaller range on the previous candle, we were already above the NLBL and the push above 1,197.5 triggered my long. FWIW – the bulls are far from being out of the woods just yet. This entire configuration is highly ambivalent and a reversal here still has good odds. I’m sticking with price but am prepared for possible whipsaw. That’s why I’m only playing 1/2R and plan to add the next 1/2 at the 1R interval (if we get there).

More goodies below the fold…

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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 the usual social media waterholes.
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