The New York Stock Exchange had some good moves this morning. Too bad they were in the opposite ways of each other. I was lucky that I didn’t get mowed down in the crossfire but the PnL didn’t fare as well as I would have liked to given my protective stance going into the cash open. It’s said that the smart traders pick up the quarters on the train tracks one by one and step off while looking out for the train while the not-so-smart-but-intellectual guys are looking at charts and indicators as they try to get as many quarters in one go and get creamed as the train comes in. I’m not sure about how correct that quote is but I can tell you from personal experience that it has a large degree of applicability. More times than not it pays to be dumb with common sense rather than be a genius with none. That’s kind of how the market went.
I didn’t trade any other assets today because I just didn’t see anything that was worth trading, so I just focused on the cash open. Like I said, there was a lot of energy but very little room in the way of perching for sustained or even reverse moves. I know that there was a lot of ups and downs going on at the open but I just felt like the market was more opaque today than it usually is and I think it has a lot to do with being more than a day into the government shutdown. I’m sure this will all be settled but the effect on the US markets is definitely there. I just couldn’t beat commissions in a meaningful way and the trades that I thought would go my way eventually ran against me. It’s hard to make any money in that kind of environment. When I realized that business costs were really starting to eat hard into the PnL that’s when I decided to just quit for the day and close up shop. There is tomorrow, after all.
Everybody is going nuts up here because the Patriots have made it back to the SuperBowl. Well, almost everybody. I’m not thrilled. I hate the Patriots. But I respect the heck out of them. A part of me wonders just how a team like that could have come into existence. It’s almost as if so many factors aligned and just produced this amazing creation. Make no mistake about it, in the history of football and in its future there will be no team like the Patriots – ever. What they have done is beyond astounding and the crazy thing is, they won’t be remembered for choking twice against the Giants as much as they will be remembered for winning in close situations. I remember watching the SuperBowl last year and EVERYBODY though Atlanta had it in the bag. My wife and I shook our heads and were like: “no….you don’t know the Patriots…not like we do”. We actually left the bar when we felt like the Falcons were starting to slow down because we both knew there were gonna be alot of pissed off Falcons fans hahaha. Personally, I hope the fucking Eagles win because if not, I’m totally gonna shit on every Eagles fan that dares to rock those hideous colors everytime I’m in the Philadelphia vicinity. Being in the New York area for so long, I saw the subtle divide as you drove down Interstate 95 from SUV’s with Giants/Jets decals turning into Eagles decals once you got into the countryside. They have a big fanbase. Additionally, can get pretty rowdy. So, I’m willing to give the team a pass from Donovan McNabb’s performance and hope that Nick Foles can pull an Eli Manning. I just look at the Patriots and wonder what it would have been like to be a fan of theirs, having a reason to watch NFL football all they way into February – it’s amazing. Looking back, I wish I was a little bit more learned about the coaches instead of the players but I’m satisfied with the team the wife and I root for. I just wish that it could have been us reeling in championship after championship.
Anyway, enough of that shit. I’m glad I didn’t get destroyed today and I am thankful that God has given me a new day to enjoy. Time to be a decent and professional person. I’ll be ready for tomorrow.