The New York Stock Exchange opened up with a vengeance this morning. Everybody; short, long, flat, was affected someway or somehow. There was no hiding from the babadook this morning. I wanted to sit down and watch a little CNBC to gather what the news was but that’ll have to come later as I’ve got other stuff that I’m taking care of today.
I didn’t have any morning trades to make although I wish I did because today’s market was a surprise and given what I saw, this sell-off had to have originated in Asia – or maybe not. Again, I am just guessing here. I haven’t looked at the news since ignoring dinnertime last night…on my phone…next to the wife…glaring at me, lol. The food she cooked was great, really. Anyway, so I didn’t have any other assets to trade. I just focused on the cash open and when I opened up the laptop, I was like “whoah…”. That’s the most I’ve seen futures down pre-market since like the morning after the election so I figure there was some type of important news. Anyhow, the reason why I said the markets came out with a vengeance was because even though I was reduced on risk, the markets were bucking and swinging so wildly that my choke points became bounce back points. In retrospect, I should have recognized this earlier but like yesterday, the damage had been done in a few handfuls of trades. This time though, I didn’t have the benefit of a good asset trade(s) to help me out.
I’m pissed. I’m sure you know this but yes, I’m really pissed that I lost money today. But I’m thankful that I really cut my risk and turned what could have been a bloodbath into a less crappy thing. What can I do about it except to accept it, move on and prepare for tomorrow. I’ll get to watching CNBC now but not before I thank God for giving me the knowledge to get out of the market’s way today.