The New York Stock Exchange started off with a little bit of a jump but volume dried up from then on. I wasn’t expecting much anyway – it looked like the move that the market was going to make was made at night when the trading was thin. Of course, it’s only 10:30 right now so there might be more things coming down the pipeline for today’s equities and equities derivatives. I just won’t be there as I’ve done what I wanted to do and tried to take as much as I could out of the market.
With the cash open being as slow as it was, I decided to be a bit of a holder this morning and it had mixed results for me. On the one hand, the PnL was positive but because of the losers I’ve had to incur, the day wasn’t all that productive by my standards. Again, if there’s one thing that I won’t let erode my day it’s my business costs (i.e. commissions) and if I feel like it’s starting to be a factor, I’m going to simply close the computer and go about the rest of my day. I traded Cocoa for what I felt would be a fast move but it didn’t materialize the way I dreamt it would and even though I had a handful of ticks, I just didn’t have a good feel on the market anymore and wanted to exit out before I got back to break even.
All in all, it was a quiet day. I’m glad that I didn’t lose any money but I’m a little upset that I didn’t gain anything either. I am not surprised that the Wall Street Journal pointed out yesterday being the slowest trading day of the year. However, I won’t count it out that we have trading days that may be even slower than that. It is the new reality that we are all forced to accept. But as long as there are fast days to balance it out and a constant directional movement in other assets then it is acceptable. We are only in Year 1 of a new political regime and I’m willing to give it a little time before I judge President Trump’s economic impact. The fact, however, is that the market has been up since November and if you just sat on a some Dow contracts (which I should have done), you would have had a nice little chunk of change.
All that is water under the bridge though. I’m thankful that I’m still in this stupid retarded business and that I have something to do instead of waste away in my life. Such is the sacrifice of bein an entrepreneur even though I hate the word and I wish I did something different. No regrets, only gratefulness for my life to God.