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Wednesday Morning Briefing

Wednesday Morning Briefing

Wednesday Morning Briefing

by The MoleOctober 9, 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 overnight ‘Yellen bounce’ ran out of steam quickly and didn’t change anything on our equities map – at least not yet. Perhaps the realization that a new dovish chairwoman may not be the turn key solution leading us out of this financial slow motion train wreck is beginning to sink in. We continue to paint lower highs and lower lows and there is no new evidence that would lead me to change my current outlook on the daily panel. There is however a short term setup that may get us an early leg in – assuming it triggers and plays out:


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Not much else on my radar today – not for a lack of trying, mind you. As you may have noticed outside of equities most markets have been pushing sideways – bonds included which apparently are stuck in a wait-and-see loop. I guess after decades of partisan brinksmanship bond traders expect this current stalemate to once again resolve itself with a few seconds left on the clock.

Frankly, I hope for all our sake that they are right. Despite some of the punditry you may have come across there would be nothing positive or glorious about a U.S. bond market default. No matter if you’re a bull or bear – you do not want this to happen as we would all would find ourselves SOL without a paddle.

Otherwise, see you all at the thunderdome. Better bring a cup – I’m a biter.


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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