Zero Indicator
Now Reading
Wednesday Morning Briefing
49

Wednesday Morning Briefing

by The MoleMay 15, 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.

The most exciting news this morning is the Dollar’s breach above its long term diagonal resistance line. If you have been coming here for a while then you know that I have been following this chart closely, patiently waiting for a breach of either 83.5 or 78.5.

Here’s the P&F which now is painting spread triple top breakout, projecting a preliminary bullish price objective of 88.5. I hope you were watching the DX and are positioned accordingly, as you know I have been pushing this setup for a long time. Truth to be told I am still waiting for Bernanke’s shoe to drop but lest any tinfoil hats and conspiracy theories I must be long with a stop below my break out trigger at 83.5

Spoos are about to touch the 25-hour SMA – NLBL right above – my thresholds are on the chart.

While we’re on the topic here are yesterday’s Mole reversal signals courtesy of the Zero indicator – also a nice divergence mid session and then there’s another one right before the EOD swing higher.

evil_separator

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.

Please login or subscribe here to see the remainder of this post.

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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c

  • AmazingLarry

    Fib fan fans?

    End the Fed! 😉

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

    Thanks for the dollar update, added long on the pullback:) Damn, allot of data today.

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    sorry mole, trading against you if u r short. i am long right at the bottom with a trailing stop at breakeven.

  • Schwerepunkt

    Snap! Zombies never die . . . gotta watch 1648.5 now.

  • http://dartht.blogspot.com/ Darth_Gerb
  • http://twitter.com/D2point0 Daron

    Short the NQ, 1/4 position

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    I suppose its decision time pretty soon. Taken half off and rest at breakeven stops.

  • jmoney3000

    Back from a 2 week Safari trip to South Africa & Botswana. An amazing experience, but excited to be back trading–looks like the Dollar might make a major long term breach of resistance in coming days.

  • tradingmom

    ES at top of upper envelope, but zero at zero. RTV sell on hourly.

  • BobbyLow

    Wow! Gold is being stepped on again right along with the Euro.

    Also inside day breach in oil yesterday is looking good so far today.

    Just another day in da neighborhood. 🙂

  • Schwerepunkt

    A bit more and we’ll get a giant short squeeze, again.

  • Schwerepunkt

    Resistance is broken and so are the shorts, again.

  • bdoone

    Yeah, how else to explain green: dollar, VIX, TLT while copper -1.5% again.
    TICK was weak 1st 1hr w/sma’s<0
    ,

  • bdoone

    No selling until RUT & GOOG print 1000, didn’t you get the memo?
    Small POMO today also: $.75-$1B.

  • Skynard

    Signal turned, looks to be a div, What was the TDA?

  • AmazingLarry

    Nether did TD Ameritrade. ToS charts don’t even go that high. Plus you need to get a taller computer monitor. :sigh:

  • bdoone

    I see 36/45 closes below zero 1st 45mins. right on 80% line of moderate to low chance of TD.

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    shorted. 6 green 5m candle in a row is rare.

  • Skynard

    Trying a short, both hourly hsve turned and we have a div on the 5 min. Dollar back above 84:)

  • bdoone

    Entered small ES short here. Daily R1 pivot is 1655.75. Wouldn’t mind a blowoff pop on high TICK…I was just about to short at unched but at 10:45 we had a -930 TICK and ES didn’t even budge.

  • Skynard

    Yep, there is your pop. Have 3 pt stop. She how it goes:)

  • AmazingLarry

    Bullish % on the $DJA at 97.

    Equity put/call almost .50

    ZeroEdge on suicide watch.

  • amokta

    Silver keeps falling – this is beyond a joke, i need to lie down 🙂

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

    JJ thought I was joking when HL is going to zero.
    😉
    it’s against my policy to buy sub $2.50 shares, but I’m going to make an exception and buy some at $1

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    yeah, added shorts to the pop too – for fun 😉

  • Schwerepunkt

    Here comes your pivot.

  • Skynard

    /SI really getting clobbered)

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

    useless metal can’t eat it. 😉

    do they put it in AAPL products? looks like you can’t eat those either!

  • Skynard

    Whoa, 1700 next stp. WTF!

  • https://evilspeculator.com molecool

    I was long at 1648.5 (spoos). NQ lagging today…

  • Joe_Jones

    TBT is da b0mb 😉

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

    I’ve been Edge free for months. those guys are entertaining Sections 8’s.
    Mole has adjusted my meds, and I don’t hear those ‘voices’ much any more.
    Ivan has helped me step into bigger candle world.
    ;-D

    http://s16.postimg.org/d85eseus5/section8.png

  • Skynard

    Lol, now that’s funny:0

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

    nice. I always forget about TLT’s bizzarro twin.

    http://stockcharts.com/h-sc/ui?s=TBT&p=D&yr=0&mn=8&dy=0&id=p38603463524

    room to run?

  • amokta

    🙂
    Anyway, i am long RBCN – anyone give me an upside target, or sell today?

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

    somebody’s getting reamed, somebody else is gettin rich.

    http://s1.postimg.org/e4bjj5flr/ream.png

  • Skynard

    AUD bulls giving up the ship again:)

  • Joe_Jones
  • badflightrisk

    1666 will stop it in its tracks
    If it does better take out flood insurance and watch your six for a guy on a horse dressed in black
    Got to like that VIX

  • https://evilspeculator.com molecool

    Wow, this thing just keeps chugging!

  • bdoone

    Anybody buy ES above NLBL 1648.5, except Mole? Yeah, me neither. Was looking for every reason to sell (VIX, TICK, copper, $) but that NLBL kept me thinking about yest open: we had a few NLBL in 1632-33 area (see Moles chart above) and BOOM 13 handles straight up.
    If bias is my mental disorder, Mole is my therapist and his NLBL’s kept my from jumping/shorting…at least for now, so I can jump from higher levels later:) I posted earlier that I shorted small (1652.50) and was eyeing that 1655.75 area (daily R1) but looking at the hourly panel I got out for BE and didnt bite on the R1. We could get a 13 handle NLBL today to 1661.50 with the daily R2 at 1663.25.
    Why does this rambling matter? I guess if I didn’t think so much and just bought the damn NLBL and set stop then woulda banked 10 handles already…I guess thats why they say the hardest trade is the profitable trade. I mean who the hell is going to buy these levels with +pos VIX, $, bonds and -neg HG? Maybe the same unbiased players who bought yest at 1633.

    This post is not meant to sound like I’m bitching about missing a move. I’m just putting in writing what I’m sure many of you SS Rats are thinking right now: WTF! Also want to thank Mole for NLBL’s. I may not have taken advantage of them but they sure as hel have kept me out of trouble.

  • Skynard

    Lol, the nice thing is that VIX is keeping my straight puts elevated right now:)

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    lol.. my shorts r strongly in the green! 😉 ok, going to TP and go sleep…

  • BobbyLow

    I’m trying to manage an Option Trade that I put on GLD a few days ago and am open to suggestions. When GLD was trading at about 141, I bought ATM June 141 Puts for $3.75 that are currently trading at $7.60. Shortly after GLD tanked, I had an opportunity to make the trade a 0 or very little risk trade so I Legged into a Spread and sold the May 24 139 Weeklies for $2.95 against the 141’s with the idea that I might be able to Roll the Short May 139’s into June 139’s next week. (The short May 24 139’s are currently at $5.00.)

    Gold has really defecated the bed so far and so fast that it might have of messed up my plan. However, I’m thinking that where the May 24 139’s still have about $1.00 of Time Value left in them that I should stay the course and wait it out.

    Another thing I could do is roll the May 24 139’s to June 139’s now and pick up an additional $1.00 of Time Value but I think I might be handcuffing myself by doing that instead of waiting.

    This trade is going to be profitable no matter what I do but has gotten a little tricky to manage and I welcome any suggestions.

  • amokta

    Ok, im long john bon silver jovi for a scalp, on intraday retrace (well thats the plan, with stop)

  • 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„¸

  • Skynard

    Good signal going thus far:)

  • http://www.hopy1.com/ hopy

    Great stuff here. The information and the detail were just perfect. I think that your perspective is deep, its just well thought out and really fantastic to see someone who knows how to put these thoughts down so well.