We’ve Got Movement!
Good news all across the front! First up it’s finally March and the most hated month of the year (February) is finally behind us. Here in Valencia the weather forecast is predicting – get this – 79 degrees Fahrenheit for this weekend, so it’s going to be nothing short of delightful. My condolences to all of you poor sobs who are still toughing it out over on the East Coast and in particular in the Pacific North West.
Alright, and second it’s Friday which in the evil lair means it’s pizza night. Mrs. Evil and I recently started a new routine: Every Friday we make a pizza from scratch, as we just can’t find a decent one here in Valencia (sorry Spaniards – stick with jamón and tapas).
The first one we made really sucked but after I talked Mrs. Evil out of using her stupid organic whole grain flower and instead switched to the industrially produced bleached good stuff it’s coming along very nicely. The trick is in preparing the dough several hours before and really letting the yeast do its thing. Yum!
Unfortunately we don’t have a wood fired oven, so I’m not even legally permitted to call it a pizza or face the risk of Fat Tony swinging by to break my knees. So let’s just call it a well prepared Italian cheese pie.
More good news: Equities are on the move again after stealthily having pushed their way higher overnight. The reasons given in the MSM are the meeting with Kim Jong Un as well as a the prospect of finalizing the long awaited trade deal with China.
As the tape was sort of meandering all over the place near an inflection point this is exactly the sort of excuse that could trigger another massive short squeeze. We are not there just yet but it’s looking promising.
I’m not entering long here, in case you wonder, as the odds of a retest are pretty decent. With all that volatility recently we have to be careful not to get drawn into the swings. You know the drill 😉
My crude campaign is in good shape now after having survived a stop run by just a tick or two. Trail now goes to break/even and Bob’s your uncle. The daily panel is still looking mixed as the SMA is pointing down, so let’s not get too excited just yet.
The EUR/USD campaign ended yesterday, literally an hour after I posted my update. Out with 2.2R isn’t too shabby plus I’m never sad to see down candles in the Euro. Everyone wins! Which of course means mostly me.
Before I close up shop for the weekend, here’s a special goodie for my intrepid subs:
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