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Miners in Focus

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Well, coal miners that is, namely Walter. Precious metals miners are bouncing, too, and offering high beta trading.

If yesterday’s lows hold on the gold miners, the many “inverted hammers” printed yesterday on the daily charts point to a tradable bounce. I also have the actual precious metals themselves on watch.

As for equities at-large, it is another lethargic morning where the Draghi QE faded like a puff of smoke (and mirrors).

It is still early, though, and Tesla is firm after earnings, not to mention WFM.

I suspect the IWM under $115.30 would unlock more selling today. Otherwise, I expect choppy action.

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Night Owl Open Forum

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For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

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Late Night Summary of Current Central Bank Board Game

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The QE Baton is being passed around, indeed.

Headed into Thursday, I am still stalking shorts on weakness such as AMZN F GM, REITs and financials.

On the long side, coals and even precious metals may be ripe for quick flips on any strength.

Drop me your top tickers overnight.

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A Musky Dusk Approaches

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After the bell today, both Elon Musk firms report earnings, TSLA and SCTY.

SCTY has been weak for a while, but the reaction to Tesla could easily be a good indication of how marquee leaders in the tape how will fare going forward.

I continue to test my biotech short and a few other positions out with a close eye on the exits, given the market’s erratic nature of late.

More in my video market recap after the bell.

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Planning a Short Trip on Priceline

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I am testing out a short in PCLN here, noted in 12631 just now, at $1,091.21 with a loose mental stop over $1,200. This is a 1/2-sized, starter position and I will only add to it if the trade works in my favor.

As I noted earlier this week, the stock is threatening a multi-year topping pattern after having been weak for several months now.

The latest bounce into earnings appears to amply have set up the next leg down, seen on the weekly chart, below.

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PCLN

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