The Ides Of March (Idus Martiae in Latin) was a day on the Roman calendar that corresponds to the 15th of March. It was marked by several religious observances and was notable for the Romans as a deadline for settling debts. In 44 BC, it also became notorious as the date of the assassination of Julius Caesar which made the Ides of March a turning point in Roman history.
Whether or not we are witnessing a turning point in equities remains to be seen but at this point my short term beartard escapades have officially ended:
No big surprise there as the writing was on the wall shortly after I left Valencia. I was about to go long this morning but then equities dropped while I was looking for a good entry. Which is excellent as we now have the opportunity to grab a position on a 3rd attempt to breach the current spike high near ES 2825.
Just my luck that Ms. Market would issue the juiciest setups while I was stuck out in the French boonies. Except that despite the rainy weather my Internet connection seems to be holding up well:
Not bad at all! I can definitely work with that. Let’s hope it stays that way during my stay here.
Anyway, on the setup front we have gold which looks like a nice entry on a breach of 1311.6 with an ISL < 1293. Why not right here you ask? Yes you can but it’s a lot more risky as this situation could resolve lower at least until a touch of the 100-day SMa.
Bond futures are on my watch list after a massive squeeze higher. When looking at that hourly chart, do you notice anything?
(tick tock tick tock tick tock tick ……)
Well obviously the bulls seem to be running the tape as the corrections are slow and torturous while the BTFD responses are fast and furious. Which means I want to be long upon a retest of the 100-hour SMA if possible but I’d make due with a good old fashioned spike low.
More below the fold for my intrepid subs:
Crude is an entry right here with an ISL < 57.70. Although my position size is going to be only 0.3% as the odds still support various take down events by the bears.
As you may have noticed we have the inverse situation happening here with slow LV climbs followed by HV wipe outs lower. Which means more risk and wider stop losses.
And how could I resist the USD/JPY? I’m taking an entry right here near 111.5 with an ISL < 111.10. Very nice retest the 100-day SMA before it picks a final direction – if that ends up being the long side then I expect a squeeze higher.
Alright, you guys asked for pictures and the Mole delivers.
My temporary setup – it’s lot more comfortable than it looks actually.
Here’s a shot of my make shift evil lair with my gear in the background for more context.
As you can see there’s plenty of wildlife to keep me company.
Fortunately I have my personal guard dog ‘Giselle’ who’s keeping watch while I’m writing this post.
If you are a Star Wars fan and wonder what happened to Darth Vader’s head then here’s your answer. Clearly I’m in very good company 😉
I haven’t had a good opportunity to take snapshots of the castle but was stomping through the surrounding property this morning to get a lay of the land.
What the picture does not convey is the amazing silence that shrouds it all. Except for the occasional bird you can’t hear anything. Basically the exact opposite of Valencia right now.
I ran into this old structure just a few hundred meters from the castle. I think it’s used to store stuff or hay during the winter.
Here’s a pan shot showing a tiny pond right next to that old structure. That Cujo looking dog in the front is the second of three guard dogs present on the property. All three of them weigh > 80lbs – no joke. Massive beasts who will rip any intruder into small pieces.
I was a little worried about the rainy/cold weather before we ventured out here. But now that I’m settled in I absolutely love the gloomy weather and especially the morning fog, which is representative of the French countryside in late winter / early spring.
Alright that’s all for today – I’ll try to post more next week. Enjoy your weekend!