Today required intense focus and patience but to the disciplined went the spoils of war. Make no mistake, my book of swings, my card collection, is looking like my Beckett collection, only the beauty is intangible as they sit here worthless.
But that will not stop me from finding someone else a bit more enthusiastic who I can sell some of my collection to for a slightly higher price than I paid.
Facebook is lower afterhours but it would not surprise me to see it trade up tomorrow. We have Alibaba earnings premarket and other factors which may contribute to a bit of good ju ju.
You could be frustrated with the downward price spiral post-FOMC minutes because they did not say much. Or, you can embrace the nature of market behavior and find opportunities. Some of the best opportunities surface when the intensity is high. As far as range trading goes, sellers just laced their Gatorade with crystal meth and charged head first into buyer territory.
They are moving fast, they are high, and now is the time to decide whether these zombie-like creatures will win and transform the streets into tattered ruins or if buyers can hold the line.
This is not the time to panic. Steady your mind. Toss a football with your child or nephew. Learn some new dance steps with your niece. But come to work tomorrow ready to execute your plan.
If you don’t have a plan, its time to work harder. Choose today. If you don’t choose today, then don’t trade tomorrow and choose tomorrow. This is no time to shoot from the hip.
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