The New York Stock Exchange traded a little slow this morning and I’m thinking that since it’s a beautiful Friday out here in the East Coast, everybody just wanted to get their money and get the hell out. I don’t blame them. As I’m typing this, I’m looking out at the sky and my backyard and I’m just amazed at how beautiful this day is.
I wish the dame can be said for the PnL but it could have been worse.
I traded Wheat this morning and most of my trading action was here. I got into a hole early and it proved to be the difference in the day. I was able to counter most of the losses but it just meant that the rest of the day was going to be an uphill struggle from here. When the market opened up in New York and I saw how we were trading, I realized that it was in my best interest to both cut my exposure in the market and not trade as much. Both factors and the trading in Wheat pretty much ensured that I would have to have a spectacular opening bell performance just to beat commissions in a meaningful way.
Of course, I did not but I did however keep the PnL positive and while it was green at the end, I do have to understand that I made it through the skin of my teeth. I am grateful for that. Now, it’s time to dock into the weekend and sleep like the lazy sloth I am.