The New York Stock Exchange opened up with some energy this morning. I was browsing through some general headlines when I saw one regarding China and their concerns about US Treasuries. I knew that would be enough to shake the markets and when I opened up my trading software, sure enough, the general market was down. I don’t know what a concern about US Treasuries portends in the bigger picture but I suspect that it’s a big nothing burger. Although far from being a perfect utopia, any investor worth a grain of salt knows that America, the land of gigantic sport utility vehicles, NFL Football, free porn and iPhones will always be the best bet for asset stability. You want asset prices that go from 0-100mph in 30 minutes? Put your house up as collateral and buy some shitty stock in some third world country stock exchange. Good luck.
I was scouring the market for assets to trade this morning. I even took a look at the mini crude and treasury contracts – which is something I rarely do – to maybe juggle a little action there. However, I just didn’t feel comfortable with the stable of tradeable assets so I just concentrated on the cash open. When the opening bell rang, there was definitely a palpable sense of selling. Whatever bidding was happening, there was inventory waiting to jump out. There was a point where I thought the market would make a run but it just looks like even if it did make a run, the action would be capped.
I have had better days but considering I’ve traded shitty to kick off the week, I took whatever the market was willing to give me in the cash open. I didn’t have a great day, neither was it enough to be productive by my standards but I’ll take a decent day more times than I won’t. Besides, there is always another market tomorrow and it’s of no use to try and force something that isn’t coming to you. I have errands to run today including a trip to the dreaded motor vehicles office which will essentially crater my whole morning. I hope that I can get in and out as quickly as I can. The trip over would be so much nicer if I had made money this morning but we cannot pick and choose many of our circumstances so it’s up to me to be a professional human being and not let this dumb business spill over into other areas of my life. I have said it before and I will say it again, I am thankful to God for my blessings.