The New York Stock Exchange’s open was pretty subdued given that we had a pretty optimistic jobs number come out at 8:30. I suppose everything that’s supposed to be everything is already baked into the market and nothing short of a shell-shocking announcement would move the markets. I guess this is kind of good but in many ways, it is bad for traders like myself. Not like I was going to play the jobs number but I looked through the different asset classes as soon as 8:30 hit and those moves were sluggish at best. I’m glad that this holiday week is finally over from a trading standpoint. Now, we can all just get down to business.
I played the cash open today and I was really expecting that there would be a move from the jobs report but was shocked to find that we were only up 20 seconds before the bell. “No big deal” I thought, I figured the open would usher in a flurry of buy order but nothing really happened. I had played with size and even though there was a bit of a move, it was far far from what I had expected. I exited break-even on all of my trades and put the desktop on sleep mode to get coffee. As I mentioned before, there’s no point in trading other asset classes this week so in a way I had a full week’s worth of being able to goof off.
Right now, it’s a rainy/sunny/muggy Friday. I have a couple of errands to run. I’m really glad that I didn’t lose money today and that I’ll be going into the weekend emotionally neutral at most. This day could have turned into a loser for me given that the market looked like it’d be choppy at best so it was important that I sized up the market and got the eff out of there. That’s a skill that took me a long time to learn and that’s a skill that I’m really thankful for. I am looking forward to Monday to make some money. I’m hoping that traders just didn’t want to take huge weekend positions and whales have just been swimming around with their mouths open getting long in the hopes of piecing out early next week. We’ll see, I guess. Till then, time to live thankfully.