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Ship Ahoy!
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Ship Ahoy!

Ship Ahoy!

by The MoleJanuary 2, 2015

We finally made it! Another dreaded holiday season has come to an end – at last. Don’t get me wrong, the Mole enjoys a bit of leisure time here and there. But effectively we’ve had zero activity since about December 15th and I was starting to go cold turkey – we are talking serious market withdrawal symptoms. It didn’t help that our ‘Santa Rally’ effectively lasted three days, and very few of us managed to catch that one.

2015-01-02_1422

But that’s all behind us now and along with slowly increasing daylight hours we are ready to steer our sails into new market territory. I hope you’ll be along for the ride – this year should be interesting to say the least. As I hinted at in my last post – I have an inkling that it’ll be a rough ride. But have no fear – Cap’n Mole will be on deck to steer you guys through any rough waters. Maybe I should get myself a parrot and an eye patch. Arrrr.. matey!

2015-01-02_EURGBP_briefing

Courtesy of some heavy jawboning by my new best friend, Mario Draghi, the EUR has been painting new lows this morning. The only pair that showed any sign of strength was the EUR/GBP as the one pair that’s been pounded more than the Euro. So the pound sterling gets pounded and now faces the 100-hour SMA which did offer reasonable resistance  in the past few sessions. I’m short here with a stop above 0.78136. Ready to flip for a long with a stop below 0.78 if it breaches that.

2015-01-02_spoos_briefing

Equities – the spoos are back at the 25-day SMA and I’m not seeing any ST context that would justify taking entries here. Perhaps if we retest those lows I may grab a long position. Today’s the first full trading session of the new year and we’ll probably see a lot of reshuffling by fund managers and institutional traders. So I’ll still be treating cautiously but am now in full scan mode to get repositioned.

That’s all for now – see you guys later this afternoon.

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Cheers,

evil_draghi

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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