07:30am ~ Happy New Year to all !

Back in the UK last night after a short Xmas holiday and ready for some trading today  –  I will report back here if I have any trade details.

Lots to report from the first big day’s trading of 2015 – and the main news was that U.S. Crude fell below the significantly important $50 level and after the bearish overnight Asian session it is still trading around the $49.55. A sell-off in equities yesterday resembled last year’s start to January, the S&P 500 fell over 370 pips as worries about a Greek exit from the Eurozone and falling oil prices kept buyers away. Although there is still a few weeks before the Greek elections, there is speculation that the radical left-wing Syriza party will leave the Eurozone if they win at the polls although an unnamed member of Angela Merkel’s government has concluded that a Greek exit is manageable as the other risky members of the EU (mainly Portugal, Italy and Spain) are better placed to withstand the shock as their banks are in a financially stronger position than 2012.

The drop in crude oil values yesterday was blamed partly on the Saudi Arabian state oil producer, Saudi Aramco, reducing prices to Europe and the U.S. to maintain market share and also force U.S. domestic shale producers to contemplate shutting down some facilities as it is becoming increasingly uneconomic to get the stuff out of the ground – and the price is also under pressure due to over-supply and falling demand due to the Asian and Eurozone slowdown. UK Brent Crude followed suit and ended almost $3 down at $53.09 and is now at $52.50 so there maybe further falls today.

Gold is benefiting from the turmoil in equity and oil markets as investors use it as a safe haven for the time being – it climbed over the significantly important $1200 level again yesterday, finishing up over $16 at $1204 and is currently higher at $1209.2

Market Close Monday 5th January 2015:   Dow Jones 30  -331.34 @ 17,501.65  S&P 500  -37.62 @ 2,020.58  NASDAQ  -69.27 @ 4,160.96  FTSE 100  -130.64 @ 6,417.16  UK AIM  -2.72 @ 704.99  DAX 30  -291.57 @ 9,473.16  CAC 40  -140.93 @ 4,111.36  IBEX  -357.30 @ 9,993.30   Nikkei 225 (Today)  -525.52 @ 16,883.19  Hang Seng (currently)  -272.51 @ 23,448.81

08:50am  ~  Just had a quick look at my favourite 6 charts* and there’s not much happening in the way of trading signals so I am going out for a bracing cycle ride along the beach path down towards Dunwich.   (*Email me for list)

10:05am  ~  Back now so going to watch the charts while I catch up on emails – plus I have two Skype calls in the next hour.

10:25am  ~  I have just got into a ‘long’ UTB trade on my Dax 30 chart – my stop loss is 34 pips.

11:30am  ~  Happy with the progress of my Dax trade, I am now out at +57 pips — a good start to the year’s trading.

13:40pm  ~  Not much happening on my chart at the moment so I am off for a late lunch at the Lord Nelson.

17:35pm  ~  Back indoors now so I’m going to watch my S&P 500 chart for any “Trade With A Day Job” opportunities.

18:00pm  ~  There could be a ‘short’ coming up on the S&P chart.

18:05pm  ~  I am in a ‘short’ position now with a 21 pip stop loss.

18:25pm  ~  The price on my S&P 500 chart has fallen quite well and as we have friends around soon for supper I have come out of my trade — the profit was +97 pips.