Gal Gadot, the ultimate distraction (just don’t tell my fiancée).
It’s been a while since I’ve written anything on a Saturday morning in any of my blogging iterations. For something like that to happen, there has to be some type of a big distraction or I’m floating around an idea that has a direct impact on my trading. In this post, it is both. I have to make another side trip for a funeral. It’s no one close to me but it’s like one of those things where I have to go with the fiancée for appearance. It’ll be in Virginia which is about a good 8 – 10 hours away from where I am – and it’ll comprise Sunday and Monday. Tuesday will be spent driving back which leaves me with Wednesday up to the rest of the week. This all would be fine if it weren’t for the fact that next Monday the 29th will be Memorial Day.
In my experience, the Memorial Day weekend is a huge trading vacuum that makes its presence felt up to 4 trading days prior to the holiday. In addition, there’s the one or two more additional days after the holiday when traders are just coming back to the markets and snooping around for whale orders. Basically, I write off almost the last two weeks of May due to this, or I just stay with trading things that basically have no relation to the financial markets (i.e. softs like OJ, Cocoa, Coffee), but recently even those assets have been more risky to me and it hasn’t been easy to even cover commissions on those trades. It may very well be that my grasp on those markets are slipping away. But that’s not the important thing here.
At this point, I think that the most realistic trading opportunity I have is on Monday morning for the cash open. I have a feeling that the rest of the week won’t even be worth looking at. Or I may just trade without size, but then what’s the point unless I catch a big move which I’m not sure I could do given the current market. I’ve thought this over since this morning and I think that I don’t have to draw into my summer savings all that much. I’ve actually stopped drawing into my summer savings over the years because I try and save up for a mid July trip or something like that. This will, of course, affect that trip unless I catch a nice big whale move trading but I have been in the business long enough where you can’t depend on those kinds of things. I’m approaching these next two months in a financially conservative manner as even the whole of trading for me as a business has not been ideally lucrative for the last 6 years.
Right now, I just decided to go to a Starbucks and write this. I didn’t feel like being at the house as the future mother-in-law and her sister is there. It’s too much of a taco-fest for such a small confined space so I just broke out and told the fiancée to enjoy. I’ll probably get a small breakfast here after typing this post. I can’t believe that I’m looking at the possibility of having to take two weeks off or – in the very least – vastly reducing my exposure to the market. There’s a part of me that is welcoming in this aspect, but then there’s also a part of me that’s going to struggle to find something to do. I know that I can at least blog every day about things other than the market or maybe somewhat related to it. I can watch CNBC until my eyes bleed or something like that. But the one thing is I can’t go into the vacation thinking I have a million bucks because I don’t have all that much money where I can be romping around carelessly swiping my card – costs will have to be accounted for. The fiancée understands this and fortunately she has a job so she can use her money this time for whatever incidental shopping she wants to do.
Well, that’s pretty much it. I guess I know what direction I’m headed in for the week. Kinda wish that things were different but I suppose I can be flexible and see if I can trade regardless.