The New York Stock Exchange was quiet today but there were some moves to be taken advantage of which was surprising. I don’t really expect anything big as we’ve already gotten past earnings season for the most part and aside from the occasional Donald Trump tweet, I don’t foresee any geopolitical concerns that we’re not prepared for. I didn’t read the paper today, I just scanned CNN for the major headlines and nothing really struck me.
As I mentioned before, even though the cash open was a relatively weak one, there were some good moves on both sides of the market. I was able to take advantage of these moves with size which made up for the low beta. All in all, it was a productive cash open for me. I also traded Cocoa this morning but after a promising start, the contract PnL retreated and I was forced to liquidate at a level near break-even. The only thing that saved this trade was that I was in it with size so even though I lost a good deal of money on the waiting, I have something to show for it and that is almost as important.
I visited my friend in the hospital and it seems like he is improving. I’m glad but it will be a slow recovery due to the severity of the situation. It’s the waiting that I don’t like. It’s a nice day here in the East Coast, it kind of warmed up a little so there’s a reprieve from the bitter cold mornings we’ve been having lately – it’s nice. As for me, there’s just a lot to do and it never seems like I have enough time to do it. Still, I am thankful for my life. I have a very fortunate existence and the least I could do is be a professional about the obstacles I face on a daily basis, trading and all.