The collision of global markets and social mood

Monday, January 6, 2014

Risk And Reward

First the risk: the annual snowmobile trip up north had the coldest temperature I've ever experienced. The brief 300 steps from the bar in the lodge back to our toasty cabin was -32° F. Just simply drawing a breath felt like inhaling daggers.

The reward: the next day the temperature was a balmy 14° F, the sun was bright, the trail conditions were the best ever, and hardly anyone else was using them. It truly was a winter wonderland.

Need gas? Just pull right up. We covered some serious mileage because the trails were so smooth and traffic-free.

As far as work went, about all I cared about when I left was that the market remain in a range. It did.

This week should see increased volume and price discovery now that the holiday-shortened weeks are over.

1870-1820 was a wide range, but Thursday's 1827.74 low showed that it was no joke. The market may want to retrace a bit further, or perhaps even gather some steam for another run to new highs, maybe even in the shape of a bearish rising wedge.

Too soon to tell in the pre-market on a Monday. Best to let it settle in and tip its hand. Stay warm.

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