The New York Stock Exchange is definitely having an inflection moment here where people are either a.) taking profit or b.) convinced that they can get lower prices on assets. I’m thinking it’s the latter just because everytime I see prices dip too much, there’s always people gobbling them up in huge chunks. That tells me that – for the time being – this bull run is healthy.
I did not trade any other assets this morning simply because I was sick and tired of putting myself into a hole before the cash open. Instead I just traded the open, got the money and called it a day. Today seems to be one of those days where it worked out but I can only grant myself this reprieve for this one trading session only. Although it sucks to lose, there is a reason why I have the portfolio set up the way it is and that is to combat an overdependence on one set of algorithms. I don’t want it to be a huge part of my trading so much so that if that doesn’t work, then I’m just basically a rowboat in the open ocean. I need to find a means to differentiate trading but not too much where I dilute my performance. The best way is to chug forward, no matter how slow the process is and having a dynamic set of market tactics is the way to do this. When I say set, it doesn’t mean that I have 100 systems. A set can be as little as 3 ways to interpret the market. Simplicity in this dumb business has its benefits. Generally, the more creative the “system”, the more creative the market will be to come and take your money.
I think that I will call it a year after next week. I’m simply just not getting the market moves that I need and for this to happen in December, I’m just not in the mood to deal with it. I’ll take whatever I can get until next Friday and just ring in the new trading year with a fresh perspective.