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Symbol Salad
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Symbol Salad

Symbol Salad

by The MoleMarch 6, 2013

While equities are busy squeezing the bears out of their last pennies we’ll catch up with some of our recent runners. After that let’s go off-roading – we’ve got some FX goodies and a few interesting stock symbols for your eclectic tastes.

We’ll start with crude which I suspected yesterday may paint a ‘last kiss goodbye’ move. We even got a nice early morning entry near an hourly NLSL (which this TOS chart doesn’t show, probably due to some data differences – it was at 90.52 on my Ninja chart). Thus far the entry looks like it’s good to go and I suggest you do nothing in expectation of a continuation lower. As the trend traders taught me a long time ago – sell low and buy high (yes, that’s a bit of a mind bender, I admit – we’ll get you there).

USD/CHF – not sure if you guys recall but we got into a long on that one in late February. Been banking coin ever since and I’m now cutting the cord as we’re running into resistance across the board (hourly/daily/weekly). Not ready to dip into shorts just yet.

NZD/JPY approaching its 25-day SMA. I give a breach a 50% chance which obviously doesn’t mean much. However, there’s a NLSL below and even if it drops there’s good chance of a bounce. So for now I’ll wait for a long breach here.

GBP/CHF – might have painted a floor here and its 25-day SMA will be the acid test.

Stocks – didn’t find much to my surprise. But if you’re feeling lucky here’s WYNN which has been holding up nicely near its 100-day SMA. The weekly is battling both its 25-w and 100-w SMAs. So far I’m long with a stop below all that support. Come on! Snake eyes!!!

PCP bumping into upper daily BB plus there’s that weekly NLBL that has already acted up. Short here right now with a stop below but willing to flip as it’s looking positive in general.

Last but not least – the stock that everyone learned to love and now loves to hate. It’s been a bit confused over the past few weeks and hence the 100-day and 25-day are putting into a choke-hold. Throw a daily NLBL into the mix and we’ve got ourselves a nice inflection point.

That’s all for today – no go and play nice but keep it frosty!

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Cheers,

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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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