The New York Stock Exchange had some pop today as the overall market opened up very positive after yesterday night’s SOTU address. I watched the whole thing and it was actually very refreshing to see someone with a clear and comprehensive vision mapping out what the country needed to do in order to become competitive. While America has always been the benchmark of the entire civilized world, there is no doubt that the country had been under stress fiscally and it really showed in the trading markets. This is what happens when there’s too much well-meaning regulation that stifles a homegrown attitude of risks, leaping & bounding towards new developments and being flush with cash to do so. I am absolutely in favor of taking out unnecessary regulations in order for companies – and citizens – to do/spend as they wish.
I didn’t want to trade the cash open as I saw that the YM had already ran up some 220+ ticks overnight. Most of the move had already been priced in and the open would just be a bunch of hoohas trying to get in on the hysteria – I became one of those hoohas. While there was something to be taken from the cash open, I just didn’t get enough to warrant a nice little irish jig in the livingroom. Being productive is nice and I am grateful but I wish for wealth far beyond my wildest dreams. I want to live like a limousine liberal and talk about social justice in a whiny voice while eating caviar poolside in Beverly Hills. Man, those guys have it good. Then afterwards, I want to jump into my pickup truck and head on over to Carl’s Jr.’s and partake in the all-American custom of eating huge burgers. I didn’t trade other assets today because I just didn’t have a good feeling about anything else. Usually when the cash markets are this good, the commodities are bouncing around unpredictably and killing smaller traders in their bi-polarness. So there, I didn’t do anything today really.
I’m thankful to God that my day was productive. I didn’t make as much money as I would have liked to but there is always a market tomorrow and as long as I’ve got cash in the account and I know when to get crazy with risk that is 98% of the equation right there. Time to
play Halo until my eyes fall out live mindfully, graciously & professionally anticipating tomorrow’s market.