The New York Stock Exchange is trading hard and fast out of the gates. We are in that inflection point where the market has lost traction and traders are in the verge of giving up and completely going on sell mode. In the past month, there was a feeling that things were going to sort themselves out but now as each new open happens, it looks like there is a wholesale dump of assets while the demand is moving down levels on levels. I do not get a sense that buyers are entrenched anywhere near where we are.
That being said, I wish I was sized up for today but I was operating on a decent enough scale where the moves themselves provided for the PnL. It’s been easier than usual and now I’m starting to wonder if I’m going to go into December busy or trying to wrap up my year per my plans a month before. Feeder Cattle this morning went ok for me. It wasn’t what I wanted but it was enough given my size.
I was planning to call it a week after today but I am now genuinely curious about tomorrow. I won’t be max size for the cash open but I won’t be playing small either. I’m thinking if I don’t see a move right away, then I’ll call it a week. Right now, I’m glad things went well and I am thankful to God that I didn’t lose any money.