The New York Stock Exchange really fell out of bed this morning at the opening bell. I think we had one or two ticks before prices dropped precipitously, but I felt like prices would recover and for the most part they did. I know that there were some people looking at the December contracts and thinking that they had reached their peak but I just felt like prices would consolidate at night and then move forward during the early going. I’m not sure if we’ll have some type of a sell-off in the afternoon but boy does this market have shades of 1999 written all over it (perhaps I’m exaggerating here).
Because of this morning’s uninterrupted moves, I was able to pull out a handful of ticks that made the day productive and kept my commissions in check. Other assets I traded today included Orange Juice – for a minimum gain – and Wheat for a minimum gain which, after commissions, translated into a semi-productive number for the PnL. I won’t complain – it’s hard to win in this stupid business.
I’d like to get a full day’s worth of relaxation today as I am feeling tired and have not been able to sleep much. It’s not so much the stress of trading as it is a feeling that things are changing. I constantly feel like I am in flux and it makes me wonder if there is a psychological term for this. Maybe I just yearn for something new but the reality is I am experiencing new things almost every week so I don’t know if that is a moot point. Maybe 3 or 4 hours of laying in bed while prepping for tomorrow’s market might do me some good. As always, I am thankful to God that my account is still in order and that I have been given the wisdom not to jeopardize it.