The New York Stock Exchange had a lot of energy right out of the gate this morning but is wasn’t energy that was necessarily going anywhere. We pretty much shook out across different levels and the big move was in the Asian and European sessions. Of course, the big news of the day is the releasing of the Nunes memo by the White House detailing an illegal wiretap of then-candidate Donald Trump’s campaign associates. If these allegations prove to be true, then we have to at least admit that the president may be privy to more things than we think he is informed on and with the obvious red flags this produces both for members of the FBI and DOJ (not the institutions, but certain people) we are staring at what could prove to be just the tip of the iceberg in terms of what was actually going on behind the scenes of the previous administration. But that’s not why I’m typing this, I’m typing this because I knew that this was an issue going into today’s trading and my dumb ass still decided to trade the cash open.
In retrospect, I should have just taken the day off or maybe took a short position in the indices but I’m not the type of person to speculate on the news. There are some people that can handle $4,000-$6000 worth of heat in a single position but I am not that type of person and I don’t run that type off business. Making predictions, in my experience, is largely a fool’s errand and believe me when I tell you this: waking up to a $6,000 overnight loss might seem fun to aggrandize at the bar but when you fully come to terms with the capital power you’ve given up you’ll really feel like shit. So I guess I could have taken a position knowing what was going to happen today but in the same way that the position can go for you, it can most certainly go against you. Being that I didn’t trade any assets, my shit-headedness only reared itself in the cash open. The only credit I could give to myself – and I really thank God I did this – was upon recognizing the impact this Nunes memo would have on the market, I dialed my risk back to the very bare minimum, just enough so that if things went my way with a handful of trades then I could consider my day productive but if it didn’t I’d still feel the sting of a negative PnL but it would be significantly less than what it would be at default risk. But as it is, I pretty much shit the bed from the get go and now I have to think about this throughout the weekend – or at least for the rest of the day.
I was really looking forward to making some money but I suppose that is how things go in this dumb and idiotic business. If I wanted some type of certainty I should have gone into HVAC tech or something like that. And to top it off, it is cold as f*ck here in the East Coast. I’ll make some hot chocolate before getting on with the rest of my day; there are a lot of things that I should be grateful for but boy, trading just ain’t one of them.