The New York Stock Exchange opened up with a little bit of direction albeit a lukewarm energy one. I think that this news about North Korea and the conflicting semi-decent good news of Tesla issuing junk bonds to scale up Model 3 production is keeping the market in a rather tight range. I don’t know what we’ll see in August but it just seems like the markets will have a period of consolidation before finally squeezing out all of the shorts and leaving the benchwarmers behind for the rest of the year. Of course, I could be wrong but I don’t give a rat’s d*ck because I don’t play the prediction game with hard earned capital.
The market opened up slowly. I wasn’t really able to get all that much out of the cash open. In the end, I pretty much broke even for the period as the last couple of trades I made there managed to give me some green PnL numbers. A day like today is where I am thankful for the slow lumbering of the ES contracts. I like to trade fast and volatile things but sometimes, something slow with a bigger tick increment be helpful, or even better. I traded Wheat this morning and got semi-decent numbers out of it and was looking to trade Feeder Cattle but I just didn’t know where I could set the mothership down. So all in all, I am positive on the day. Not a whole lot of positive but just positive enough where the capital I put to work was productive.
This August is starting off kinda strange. Hopefully, things will be peaceful and we can all go about with our business instead of wondering what will happen geo-politically. Even though I didn’t make much money today, I’m just glad that I made something and that I can go into the rest of the day with a little bit of piece of mind. It really helps to have the PnL in the green, it really does. I was never the type to be a masochist and accept red PnL numbers through the prism of a hollow victory, when I put my money to work, I expect something to come out of it. However, I know that things have to roll the right way so for that I’m so thankful. I’m just limit/market order in the millions that are out there so getting something…anything…is cause to be grateful to the man upstairs.