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Wednesday Morning Briefing
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Wednesday Morning Briefing

by The MoleMarch 27, 2013

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.

Since most of you guys are taking the week off let’s make this quick and painful. The spoos are sitting at the 100-hour and could swing either way. However it’s the most bullish looking of the trifecta right now:

In my book the YM is already a short and maybe painting a last kiss goodbye.

Similar idea on the NQ – short here with a stop above the SMA. I’m ready to flip on all three if a ‘mysterious buyer’ shows up again before the open.

Crude – retesting its 25-hour and a stack of Net-Line Buy Levels (NLBLs) – looking bearish right now.

Gold – may just be mental masturbation but I’m seeing a nice diagonal falling resistance line here. The 1600 mark is obviously psychologically sensitive thus adding a bit more weight to this.

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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  • captainboom

    Time stamp on the Zero is 23:38 NY time as of 09:21. Is it running Mole?

  • Joe_Jones

    Go Bucky!

  • http://ibergamot.blogspot.com/ i Bergamot

    Oil is short again?
    Nice, I guess

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

    Go “shiny bendable metal on the Periodic Table of elements. Named for it’s dark yellow color that can be bent with no equipment necessary.”

  • https://evilspeculator.com molecool

    Watch those channels.

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

    i’m watchin.
    it’s sitting on the 200ma hourly – or should I say stuck.

  • http://ibergamot.blogspot.com/ i Bergamot

    FB comes back to life
    Waiting to see some kind of reaction

  • BobbyLow

    May I ask, what is your time frame on any given trade? One person can be Short another person can be Long the same thing and both can make money.

    Oil has had three gaps up in a row on the daily. Regardless of where it’s going to end up, a pull back is normal. I’ve been long oil but I also have a longer time frame. This doesn’t mean that I’m guaranteed a winner. But in any event, I’ll stop out and or reverse when my rules tell me to do so.

    OTOH, if I see an opportunity to flip in and out of NQ today, I’ll do it but this trade might last only 10 Minutes or perhaps as long as a couple of hours but in any event it would be over by 4:15 PM today.

    None of the above makes me Bullish or Bearish on the market as a whole. I actually don’t give a shit anymore. 🙂

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

    DUST to dust, POTash to ashes.

  • http://ibergamot.blogspot.com/ i Bergamot

    What a move on Silver !

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

    that’s what you get on a stuck price line.
    those shorts are taking profits, quickly!

  • http://ibergamot.blogspot.com/ i Bergamot

    farmers don’t need no stinkin’ POTash, when they have MONsanto seed
    I totally missed this jump on MON

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

    psycho moves.
    look at that volume today on the hourly!

  • http://ibergamot.blogspot.com/ i Bergamot

    Must be news related. They where sued, and it didn’t look good for MON.
    I guess evil corporation prevail ones more

  • beentohardknocksU

    hourly zero fx nailing turns on AUDJPY last little bit

  • BobbyLow

    I guess there was yet another Build in US Oil Supply of 3.3 Million Barrels. In years past, I watched Oil Prices really move in both directions just before the report was issued. (Similar to Fed Days and the Overall Market)

    Well about a month ago, I noticed that this was no longer happening and each report was treated as a big yawn. This is suggesting to me that for whatever reason, price is being propped up. There also used to be bullshit reasons given for high prices ie; Middle East Turmoil, Nigeria, Pipelines or whatever.

    Now it appears to me that the consumer is told nothing and Prices are High because they can be kept High so “Fuck You Pay me”.

    http://www.bloomberg.com/markets/economic-calendar/

  • beentohardknocksU

    re ES and the 100hr SMA – I think the spoos decided to follow Yogi Bera’s advice about what to do when you reach a fork in the road. Take it (dropped below the 100hr now has decided to try the other direction for a while….)!

  • bdoone

    Looks like it has eyes on the 25hr SMA.

  • Peter Levchenko

    guys so where the fk does today’s chopfest in JPY leave us?????

    usdjpy im still trading a break of 94.60/93.80 either way…but i think the risk of a HUGE move lower thru 94.00 is margianlyl higher…

    still short eurusd
    16:36:25 PETER LEVCHENKO : im looking at DXY
    16:36:27 PETER LEVCHENKO : its broken to new hihg
    16:36:31 PETER LEVCHENKO : thats observation #1
    16:36:52 PETER LEVCHENKO : observation #2: all my guys saw everyone TPing on short eur AND EUR corps buying and yet EURUSD ahs been SUPERHEAVY all day…
    16:37:05 PETER LEVCHENKO : observation #3: usdjpy has failed to rally despite all the toshin flows and amidst BROADBASED USD strength
    16:37:23 PETER LEVCHENKO : CONCLUSIONS:
    1) short EURUSD
    2) go neutral in USDJPY from long… with bias to flip short 93.80/90
    16:37:27 PETER LEVCHENKO : thats if u think about stuff really rationally

  • http://ibergamot.blogspot.com/ i Bergamot

    Guess oil short is dead again

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

    switch to the daily.

    3 candles inside the red candle.
    not a place to be, IMHO. a place of indecision.

    http://stockcharts.com/h-sc/ui?s=$XJY&p=W&yr=1&mn=0&dy=0&id=p50493530795

    http://trueslant.com/maryannmott/files/2009/06/dogomatic1.jpg

  • Brishort

    AUD/USD & AUD/JPY are the most interesting current plays on my radar. AUD/JPY on 1 hour time frame, nice overhead supply, 100BB bottom touched below ichi and looking to see if will get embedded in lower BB. if so, aggressively shorting below 97.8 Currently flagging on small time frames, coiling on on longer time frames.

  • Schwerepunkt

    SPOOS back up to 25-hr again. Gotta keep everyone guessing.

  • https://evilspeculator.com molecool

    Which way is it better to cut your veins – horizontal or vertical? I think I’ll do both just to be sure…

  • BobbyLow

    It’s slow motion slice and dice.

  • Schwerepunkt

    There we go. SPX pushing above the 25 hr. the 25/100 upper BB should be next targets and they’re pretty close to each other ~1568/1570 respectively and moving horizontally.

  • http://ibergamot.blogspot.com/ i Bergamot

    Eats easy !
    I know what to do:

    Just buy long SSO to hedge SDS i bought to hedge my long stocks, I sold since…
    How is that?

  • BobbyLow

    If Oil makes it to 99, it would mean a Triple Top Breakout on Standard P&F settings. As of this moment it only needs about $2.25 to get there.

    I don’t know if this link will take. (Had to get a new computer and need to download Jing.)

    http://stockcharts.com/def/servlet/SC.pnf?c=%24WTIC,P

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

    Spoos banging it’s head on the MA25 (hourly).
    will the fun never end?

  • http://ibergamot.blogspot.com/ i Bergamot

    I rather have no opinion on Oil right now.

    Everything was pointing down, yet the price disagrees. At the very least, it will stop and build some kind of top pattern. Or it will just blow thru 100.
    Nothing bearish worked over past couple of weeks, yet I can’t consider this chart as bullish either. So, just wait for more bars

  • http://ibergamot.blogspot.com/ i Bergamot

    One more:
    From todays open – ALL asset classes rally. Stocks, bonds, silver, oil…. You can’t lose!
    Come on in, we have a seat at the table just for you

  • https://evilspeculator.com molecool

    Check out the Zero Lite – I think I’ll be taking the evening off…

  • BobbyLow

    Out of the last 17 /CL Daily Candles, only 4 of them have been down. And the last 4 Daily candles have been up consecutively.

    I guess we follow trends differently. 🙂

  • bdoone

    And COMP/NAZ up w/AAPL & GOOG -8??? Strange

  • ridingwaves

    7% of all options for SPX expire tomorrow to the tune of 125 billion of qtrly options…but that is just 45 days of pomo so take it for what its worth

  • Schwerepunkt

    Let me guess, flat as an unaugmented Brooke Shields?

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

    me thinks mole hit his head.
    Leeches don’t have access to Zero Lite.

  • http://ibergamot.blogspot.com/ i Bergamot

    A, wasn’t clear. Sorry
    what i mean was, its too late for me to buy, because of many factors like where do I put a stop?

  • FSUinArizona

    When ZL flat lines,stay away. Lesson I learned the hard way.

  • https://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • https://evilspeculator.com molecool

    Maybe it’s the blood loss.

  • http://ibergamot.blogspot.com/ i Bergamot

    I still don’t know how to read it
    No participation is bearish? Or no pick up on Zero during reactions is bullish? Or both?

    (I know that somebody will reply: “Yes”)