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Getting Paid On Thursday


Equities have dropped a little lower overnight and we're now testing the 100-hour SMA. If I wasn't long already in my ongoing campaign I would be here with a stop below ~1958. If supports fails then the next probable scenario is a visit of the lower 100-hour BB which coincides with NLSL at 1944.5.
Here's another view at the scenario on the hourly panel - the onus is now on the bulls to keep up the pace or we run the risk of a little correction.
Platinum was one of our short setups from last nig…
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Strike The Iron While It's Hot (Next Time)

Bottom line is this: The vast majority of you guys missed out on this beauty of a short squeeze. Not that I'm surprised and I'm not here to rub in it. But I am here to make sure you won't forget or tell yourself that nobody could have seen this one coming. My message stands as it has over and over in the past few years:
Ignore the noise - fade the hype - forget the news. Just show up to work when it's time to strike the iron. You don't have to be smart, white, black, tall, beautiful, muscular, f
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Don't Be Afraid Of The Boogeyman

It's fascinating to me what passes for financial reporting these days. This morning I came across a little jewel by Mark Ackerman who once again blames the big bad Market Bogeyman for the fact that equities have not crashed and burned this fall. I guess it's that time of the year again - and no I'm not talking about Halloween. After all October is high SKEW month and how dare equities NOT fall off the plate six years and counting! Be this as it may - we are used to seeing our daily dose of dooms…
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Monday Briefing

Welcome to our Monday 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.

I'm sure you guys can't wait to get back to work after such an exhausting 4 day weekend (if you count Thursday). Just kidding - I don't expect much activity here today as most of yo…
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evilspeculator avatar

So much enthusiasm :-"

VictoriaVika avatar

cause unexpected see in such blogs face Robert,s face! LOL

evilspeculator avatar

I actually met him in L.A. a few years ago.

VictoriaVika avatar

cool) did you, guys,had some drink together? )))

evilspeculator avatar

Nah - just said hi to him - he was with friends. That was about 10 years ago or so - some coffee place on Sunset right across the Mondrian.

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Is It Summer Already?

Temperatures over here in Spain are slowly crawling higher and the locals are busy preparing for the annual onslaught of UV deprived Northern Europeans (and a few Americans as well). Down here at the lair air massive air conditioning units are running in overdrive as my charting/reasoning abilities degrade inversely with every degree Celsius higher on the scale. There has been very little activity here yesterday and the tape did its best to keep everyone bothering to pay attention bored to tears…
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Watch Your Six

It'll be a short week as many vacation deprived worker bees over in the U.S. are busy preparing for an extended 4th of July weekend. So expect low participation on the market front starting Wednesday and turning into a flatline on Thursday. Which unfortunately works against us this week as this is probably just the quiet before the storm. Since I was gone Friday I'll start this off with a wrap up of where we are followed by a few pointers on how to get positioned and of course some short term se…
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Time To Strike The Iron

We are at an important inflection point this morning and it's time to strike the iron as it's hot hot hot! I'm running a bit late today so I only have time to report on equities - but it's a very good one, so pay attention:
This is what's working in our favor right now - the GBP/JPY is still looking divergent or at least unsupportive. Could change quickly but there are no guarantees in the trading game. So let's look at the price action on the futures side:
This is a textbook RTV-S configuration…
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Top Five Forex Pairs By Volume Traded

Quite a shift recently - courtesy of KCG/Hotspot:
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Don't Buy The Rumor - Sell The News

I'm sure you've heard by now- the U.S. economy is experiencing major shrinkage. The decline in Q1 real GDP was the largest since Q1 2009 (-5.4%) when the economy was in recession. According to Joseph A. LaVorgna at Deutsche Bank: 'when the economy shrinks as much as it did in Q1, the economy is either in recession or about to enter one.' Gold and bonds just popped and equities are still clinging to yesterday's lows.
This is now officially yesterday's news. So don't get caught up in all the excit…
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Don't Ever Chase The Tape

Boring markets usually lull hapless victims into a sense of safety and complacency. I see it here in the comment section all the time - time and over again retail is looking for 'action' and perhaps a bit of drama instead of leveraging the market cycles I described yesterday. Case in point is today's whipsaw move on the spoos:
Our Zero indicator provides an excellent way to visualize/understand what has been happening over the past few days. Make no mistake - strong hands got positioned a long l…
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