The New York Stock Exchange traded well today and I’m glad it did because this week was a moribund one. I always got the feeling that volatility would slow down at every corner and when you make your living off of volatility, it’s hard when the markets just don’t move.
Today, my cash open profits were small because I made the decision not to load up on contracts. Do I regret it? Fuck yeah. I hate it when I miss good days like this but more often than not, my risk management has helped me keep my monthly earnings afloat so I won’t complain about that. The only thing today that bugged me and took away from the PnL was my trading Wheat. I felt like I had a really good handle on how the market was trending and I just got in at the wrong times. It was the lone blemish or blemishes to what was a regular ho-hum day.
Lots of news but seeing two major headlines:
NYPD won’t arrest students in schools for low level crimes
Congressional hearings on slavery reparations
I don’t know about you but as much as I don’t like hearing tinfoil hat conspiracy people talk, I really wonder if this country has gone insane. Being a resident of Manhattan for several years, I always knew that at some point, the liberals would come and take over but what’s happening in NYC is not just liberal, it’s absolutely criminal. The city is starting seem like a third world country with new buildings and parks hiding the obvious social strains. I can’t help but notice the stark difference between what i see now when I go with my wife versus what it was even less than a decade ago. And the thing is, their mayor – Bill DeBlasio – wants to run for president. Wow. I’m telling you, if you want rampant crime and lawlessness then vote for him.
Additionally, I can’t believe what I’m hearing about reparations being discussed in Congress. Contrary to what many people think, I may be all country and all but I do believe affirmative action has its place in our society. And while I am more prone to lean left than right for helping the economically disenfranchised African-American community, I just think the whole concept of reparations is simply a vote and money grab. I can’t believe that people are actually supporting this. The idiocy is real.
I want to finish up all my work tonight because I’m watching the NBA Draft. We have a nice incoming class of rookies and I’m really interested in seeing who my Chicago Bulls take. At this point, I’ll be fine with them taking Cam Reddish but if they decide to trade down for more picks, I’d be ok with that too. I’d be hard pressed to see a scenario where a trade would go down that includes Zach Lavine. I hope they don’t because I like Zach and think he provides the needed alpha dog dynamic for offense that the Bulls desperately need.
Pool is coming along well. Can’t wait to start filling it up with water next week.