The New York Stock Exchange started off rather quickly today – but the problem was that orders were kind of all over the place so I really wasn’t able to get a good understanding of the direction the market wanted to go. Judging from the rest of the market day, there wasn’t all that much to be made in pure ticks. The only way to have made something was to not fall in love with a directional bias.
I was able to trade the cash open successfully (I mean, anyone can get into the market) but as for true net earnings and costs, I beat commissions but I was not particularly satisfied with today’s result. I don’t even think I could call it productive by even the most liberal stretch of my imagination. The only thing that saved my day was an additional trade that I took before the lunchtime hour in the ES. I felt like the market was weakening a little bit going into 10:30 and decided to hit some bids. I wasn’t really looking to hold all that long and I felt like there was some type of upward push that was happening in the market so I just held for a time and was rewarded well for it.
I think that this will be the last day that I trade any other assets outside of the cash open since tomorrow will be Friday going into Labor Day. I don’t even know if it’s worth it for me to even trade at all but I have found that sometimes, it’s best to not trade before the holiday and sometimes its best not to trade after the holiday. It’s a give and take kind of thing where you have to play it by ear. Nevertheless, I’m confident that not playing any other assets is the better way to go and I’ll just end the week on the cash open like I did last week.
I’m so fortunate to have been able to trade and get the results that I did. I’m a very lucky person in that respect just due to how hard this stupid business is. It’s a very pleasant day today and the sun is out in the east coast. I actually decided to skip posting in the midmorning just to admire how the sun hit everything throughout the backyard. It’s a moment of clarity that I will treasure forever. But right now, I thank God that I have another day to trade.