The New York Stock Exchange really traded today. I don’t know if this is going to be the start of THE downturn or if it’s just A downturn. I guess we will have to stay tuned. However, if I was a betting man (and that’s what I’ve been reduced to in this shitty business) I would say that we will have a week of consolidation followed by a Santa Claus rally fueled by nothing more than a feeling of the market being cut free from unnecessary regulations.
I traded average today which means in my estimation, I traded mediocre. I was able to get a good read on the cash open but not before I put myself in a hole trading the Euro. I’m really starting to think that I should just go with the cash open for the remainder of the year but it remains to be seen whether or not I will even continue after this week. I just traded like crap and the PnL was not productive by my standards – not productive at all.
I took the wife and the in-laws into Manhattan today as her uncle is having open hear surgery tomorrow. I’m not really a fan of her uncle but I hope he pulls through (hey, I’m just being honest here). The reason I mention this is because driving around New York City, I was reminded of why I loved it so much being here – namely in the Wall Street area. I saw all of the younger professionals and remembered that at one time that was me all suit & tie’d up. Man, those days went by like a flash. I then decided to take the uptown route out of the city instead of the regular ol’ Lincoln Tunnel route. If you ever want a chance to test your driving mettle, floor it on the FDR (Franklin D. Roosevelt Highway or Expressway or whatever). Anyhow, I used to crank it up on that road but you’ve got to be careful – obviously – as it is not for weak stomach drivers. You will get a view of Manhattan like no other. So I followed the FDR all the way up to Harlem river drive and into the Cross Bronx Expressway where I remembered so much of my life zipping through traffic here en route to Stamford, Connecticut for some hedge-fund function or to party up in Boston. Then of course, I crossed the George Washington Bridge; the bridge that I want to jump off of all the times when I have shitty days. Of course, today I was like: “hmmm, I could just pull the car over and take the leap”. But I didn’t lose money today so it would be absolutely retarded of me to do that. Anyway, it was nice going down memory lane. It kind of makes me disgusted at being the lazy fuck that I am now. I suppose that is what aging is all about – and having to deal with this dumb business.