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Tuesday Morning Briefing
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Tuesday Morning Briefing

by The MoleMay 6, 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.

Equities are a mess right now – short term there is little context, thus no setups and nothing for us to do. Yesterday’s long a$$ candle does not work in our favor as it makes taking entries very difficult. So the best we can hope for is a boring sideways session which may at least produce an IP or an RTV-L.

Moving on – CAD/JPY may just muster up enough mojo to overcome upside resistance looming above. IF it does I want to be long starting around 93.19. Put your stop below 93.05ish.

Bonds – the ZB falling toward its rising 100-hour SMA. Right now I am long with a stop at 135’14. If it doesn’t get there you can wait for a long above the 25-hour SMA at roughly 135’26. Finally if it drops through the first short campaign I’m interested in a short below 135’14.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

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 the usual social media waterholes.
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  • Dyellowflash

    TP my original first fill of shorts. very near my ST target of 1868.

  • Skynard

    Funny thing that gold is not catching a bid here with dollar weakness.

  • Dyellowflash

    yeah, and silver didnt do anything after clearing mole’s netlines, so i tp for a few hundreds bucks just in case.. n mkt direction is still uncertain. i hope i dont have to go long.

  • http://dartht.blogspot.com/ Gold_Gerb
  • http://dartht.blogspot.com/ Gold_Gerb

    careful lads, Ms. Market is a sly one, she’ll cut your tail off!

    http://s7.postimg.org/ot9mcfnbf/tail.png

  • https://evilspeculator.com molecool

    It’s been pain in the ass tape since late February – and it will continue until we either clear 1830 or 1890.

  • Skynard

    …..

  • humble pie

    no doubt. i got crushed in february shorting the IWM. got stubborn and stayed in the short trade for weeks until the pain was too great (horrible trading). ultimately took a big loss only to watch IWM fade hard in april. grrrr. range bound whipsaw. Have mad it work in march and april by being more nimble — smaller, less aggressive positions and liberal profit taking. If you can survive as a trader, you can do anything in this world. Tricky game that doesn’t have to be so hard, but our instinct to do more/work harder is the trader’s downfall.

  • http://dartht.blogspot.com/ Gold_Gerb

    I assume some traders will love the action, some will absolutely get killed by it.

    oh, I see JJ lurks.

  • Dyellowflash

    profitable day, but totally exhausted. i think cue from zl is today’s going to be a nowhere chop around day, so just scalped the vwap.

  • http://dartht.blogspot.com/ Gold_Gerb

    Yeah, I once made $27 bucks.
    it was one of the hardest profits I ever earned, and totally not worth it.
    that was before my Evil Spec Makeover.
    ;-D

  • https://evilspeculator.com molecool

    You’re pulling the big bucks, aren’t ya?

  • https://evilspeculator.com molecool

    Looks like I may get my wish (inside day).

  • mugabe

    you can get a house in detroit for less than that.

  • bullregard

    That’s why you always, always, speak in Rs 🙂

  • Skynard

    Loose SPX 1870, kiss her goodbye:)

  • https://evilspeculator.com molecool

    Ooooorrr maybe not… 😉

  • https://evilspeculator.com molecool

    :-))

  • DarthTrader

    Ukraine flaring up on the news today. 99 times out of 100 news is not the reason, today . . .

  • https://evilspeculator.com molecool

    I wish they would let that one go – who really gives a rat’s rectum about Ukraine? It’s all political theater…

  • mugabe

    it’s important to speak in Rs and not out of them

  • http://dartht.blogspot.com/ Gold_Gerb
  • mugabe

    probably not much point in trading it.

  • Skynard

    See if we get a div here or not, do not think so. Down trend is in. This is where I would go long though. Allot of time left today.

  • http://dartht.blogspot.com/ Gold_Gerb
  • Billabong

    Exactly. “They” (as he laughs) try to use news to push around any financial instrument. Where are those Nigerians when we need an increase in the oil contract price?

  • Billabong

    Side note: Mole, Cardiff has been relegated to the Championship League. Your friends/associates in Cardiff are probably disappointed.

  • mugabe

    probably gutted cos cardiff went down

  • https://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨

    ¨°º¤ S H A K E N ¤º°¨

    ¸„ø¤º° B A K E !“°º¤ø„¸

    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • https://evilspeculator.com molecool

    Well, they still have Doctor Who….

  • DarthTrader

    Not me I’m thinkin /ES test the highs within a week . . .

    Unless the Ukraine really escalates fast.

  • http://dartht.blogspot.com/ Gold_Gerb

    can’t deny it.
    I have a T pointing to May 13th.
    but would that be a HIGH? or LOW? stay tuned!